Catalyst Paper Restructuring Plan not Approved, Sale Now Pending

“Today’s creditors’ vote makes it clear for stakeholders that our path to emerge from protection will be through a sales process initiated by a stalking horse bid from secured noteholders,” said President and CEO Kevin J. Clarke. “Our objective remains unchanged and that’s to put our company on better financial footing to enable us to compete vigorously and to adapt as necessary to the continuing changes in the markets for our products. Stakeholders can be assured that as milestones in the sales process are met, issues resolved and decisions reached, we will continue to provide timely updates on developments and progress.”