Catalyst Paper extends deadline to close sale of Elk Falls site to Pacifica Deep Sea Terminals Inc.

RICHMOND, BC, Nov. 9, 2012 /CNW/ - Catalyst Paper today announced that it has received partial pre-payment of the $8.6 million purchase price for the Elk Falls site in Campbell River from Pacifica Deep Sea Terminals Incorporated. The transaction includes the 400-acre industrial site and adjacent properties.

Catalyst has also agreed to grant the purchaser an extension to complete the sale. Progress continues to be made on all outstanding terms and conditions.

Sale of the property is the final step in a comprehensive site preparation and sales process which began following the permanent closure of the paper mill in 2010.

Catalyst Paper manufactures diverse specialty mechanical printing papers, newsprint and pulp. Its customers include retailers, publishers and commercial printers in North America, Latin America, the Pacific Rim and Europe. With three mills, located in British Columbia, Catalyst has a combined annual production capacity of 1.5 million tonnes. The company is headquartered in Richmond, British Columbia, Canada and is ranked by Corporate Knights magazine as one of the 50 Best Corporate Citizens in Canada.

SOURCE: Catalyst Paper Corporation

Lyn Brown
Vice President, Marketing & Corporate Responsibility
604-247-4713