Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") announced today that its board of directors has received a copy of an expression of intent among Kejriwal Group International ("KGI") and the four largest shareholders of the Company holding or controlling approximately 79% of its outstanding common shares, including Mudrick Capital Management, L.P., Cyrus Capital Partners, LP, Oaktree Capital Management, LP and Stonehill Capital Management LLC (collectively, the "Principal Securityholders").
Richmond, BC - Catalyst Paper (TSX:CYT) today announced that its Powell River mill has won the prestigious Canadian Industry Program for Energy Conservation (CIPEC) Leadership Award. Powell River was recognized in the category of Energy Performance Management in recognition of its successful installation of the G13 Turbine.
Richmond, BC – Catalyst Paper Corporation (TSX:CYT) announced today that it has been informed that three of its major shareholders, Mudrick Capital Management, L.P., Cyrus Capital Partners, L.P. and OCM Luxembourg VOF Sarl, a fund indirectly managed by Oaktree Capital (the “Reporting Persons”), have on an individual basis completed Schedule 13D filings with the United States Securities and Exchange Commission disclosing that they are currently engaged in discussions with a third party concerning a potential material strategic transaction involving Catalyst Paper. The Reporting Persons have also reported that there can be no assurance that such discussions will result in the consummation of any such transaction.
Richmond, BC - Catalyst Paper (TSX:CYT) today announced the voting results of the Annual General Meeting held May 10, 2016 in Richmond, BC.
Shareholders voted in favour of all the items of business before the meeting including the election of all director nominees as follows:
Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) announced today the amendment of its Asset-Based Lending credit facility (ABL facility). The amendment included an increase of the maximum revolving credit commitments by $25 million to $250 million. The ABL facility lenders are CIBC as Administrative Agent, Wells Fargo Capital Finance Corporation of Canada (Wells Fargo), Export Development Canada (EDC) and Bank of Montreal (BMO).