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Catalyst Paper Announces Successful Completion of Recapitalization

2017-01-28 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2017) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") announced today that the recapitalization (the "Recapitalization") and privatization (the "Privatization Transaction") of the Company have been implemented and are now effective.

Catalyst Receives Final Order of the Supreme Court of British Columbia for its Recapitalization and Privatization Transaction

2017-01-18 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Jan. 18, 2017) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") announced today that the Supreme Court of British Columbia has issued its final order approving the Company's recapitalization (the "Recapitalization") and privatization (the "Privatization Transaction") pursuant to a plan of arrangement under the Canada Business Corporations Act (the "Arrangement").

Catalyst Shareholders and Noteholders Approve Recapitalization and Privatization Transaction

2017-01-18 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Jan. 17, 2017) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") announced today that the holders of its common shares (the "Shareholders") and PIK Toggle Senior Secured Notes due 2017 (the "Noteholders") have approved the statutory plan of arrangement (the "Arrangement") relating to the Company's proposed recapitalization (the "Recapitalization") and privatization (the "Privatization Transaction"), all as further described in the management proxy circular of the Company dated December 14, 2016.

Catalyst Paper Announces Mailing of the Management Information Circular for its previously announced Proposed Recapitalization and the termination of the KGI transaction by the Supporting Parties

2016-12-15 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Dec. 15, 2016) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") announced today that the Management Information Circular containing additional information with respect to the previously announced recapitalization plan (the "Recapitalization") will be filed on SEDAR and EDGAR and mailed to the holders of common shares of Catalyst (the "Shareholders") and the holders (the "Noteholders") of the PIK Toggle Senior Secured Notes due 2017 (the "Notes") on Friday, December 16, 2016.

Catalyst Paper Obtains Interim Court Order for Recapitalization and Commitment Letters for Amended Credit Facilities

2016-12-12 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Dec. 12, 2016) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") announced today that it has obtained an interim order of the Supreme Court of British Columbia with respect to the recapitalization plan announced on October 26, 2016 (the "Recapitalization").

Alleged Subsidies to Catalyst Paper Preliminarily Found to be Negligible and Non-countervailable by U.S. Department of Commerce

2016-11-22 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Nov. 21, 2016) - Catalyst Paper Corporation (TSX:CYT) today announced that the U.S. Department of Commerce (DOC) issued Preliminary Results in its expedited review of Catalyst, finding that Catalyst received a negligible (de minimis) amount of subsidies during the applicable period of review and therefore, subject to confirmation in the DOC's Final Results, Catalyst's exports of supercalendered paper (SC) into the U.

Catalyst reports significantly improved operating results for the third quarter

2016-11-09 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Nov. 8, 2016) - Catalyst Paper Corporation (TSX:CYT) today reported significantly improved operating results for the quarter ended September 30, 2016 despite a non-cash impairment write-down of $186.4 million on fixed assets at our Powell River, Port Alberni and Crofton paper mills resulting in a $185.0 million net loss in the quarter. Excluding the non-cash impairment write-down and other significant items in the quarter, Catalyst reported net earnings before these items of $7.

Catalyst Paper Announces Execution of a Support Agreement with Principal Noteholders for Recapitalization

2016-10-31 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Oct. 31, 2016) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") today announced that it has entered into a support agreement (the "Recapitalization Support Agreement") with securityholders representing about 70% of the Company's outstanding common shares (the "Common Shares") and 87% of its 11% PIK Toggle Senior Secured Notes (the "Notes") in respect of the previously announced alternative recapitalization plan.

Catalyst Paper Announces Principal Securityholder Support for Recapitalization, and Provides Update regarding KGI Support Agreement

2016-10-26 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Oct. 26, 2016) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") today announced that it has received an alternative recapitalization proposal to be implemented if the previously announced acquisition proposal by Kejriwal Group International ("KGI") is not completed. The Board of Directors believes that the availability of such an alternative is in the interest of the Company and all of its stakeholders, and had requested that holders representing about 79% of the Company's outstanding common shares and 87% of its 11% PIK Toggle Senior Secured Notes (the "Principal Securityholders") consider making or supporting an alternative proposal.

Lawsuit Filed by Sunvault Energy Inc. and Aboriginal Power Corp. Against Catalyst Paper Discontinued

2016-10-14 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Oct. 13, 2016) - Catalyst Paper Corporation (TSX:CYT) is pleased to announce that Sunvault Energy Inc. and Aboriginal Power Corp. have discontinued the lawsuit previously commenced against Catalyst. The commencement of the lawsuit was previously announced and described in the company's news release of January 25, 2016.

Catalyst Paper Corporation: 2016 Third Quarter Conference Call

2016-10-12 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Oct. 11, 2016) - Catalyst Paper Corporation (TSX:CYT) will hold a conference call on Wednesday, November 9, 2016 at 8:00 a.m. PST/11:00 a.m. EST to review the company's 2016 third quarter results. Joe Nemeth, President & Chief Executive Officer and Gerrie Kotze, Vice President, Finance will host the call.

Catalyst Announces Resignation of Its Senior Vice President and Chief Financial Officer

2016-09-12 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Sept. 10, 2016) - Catalyst Paper Corporation (TSX:CYT) today announced that Frank De Costanzo, Senior Vice President and Chief Financial Officer, is leaving the company to pursue a CFO position with another organization. "While this was a difficult decision for me to make, I am truly proud of the work we have done during my tenure at Catalyst," said Mr. De Costanzo.

Catalyst Paper Corporation's Principal Securityholders and KGI Amend Support Agreement for a Potential Acquisition of Catalyst Paper; KGI Begins Due Diligence Process

2016-08-17 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - Aug. 16, 2016) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") today announced that its four largest shareholders holding or controlling approximately 79% of its outstanding common shares, including accounts or funds managed by Mudrick Capital Management, L.P., Cyrus Capital Partners, LP, Oaktree Capital Management, L.P. and Stonehill Capital Management LLC (collectively, the "Principal Securityholders"), have amended the previously announced support agreement with Kejriwal Group International ("KGI") and accordingly filed amended Schedule 13Ds with the United States Securities and Exchange Commission.

Catalyst Announces Second Quarter Results

2016-07-28 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - July 27, 2016) - Catalyst Paper Corporation (TSX:CYT) today announced results for the second quarter ended June 30, 2016.

Catalyst Paper Corporation's Principal Securityholders and KGI Enter Into a Support Agreement for a Potential Acquisition of Catalyst Paper

2016-06-30 marketwired
RICHMOND, BRITISH COLUMBIA--(Marketwired - June 30, 2016) - Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") today announced that it has been advised that the four largest shareholders of the Company holding or controlling approximately 79% of the Company's outstanding common shares, that include Mudrick Capital Management, L.P., Cyrus Capital Partners, LP, Oaktree Capital Management, LP and Stonehill Capital Management LLC (collectively, the "Principal Securityholders") have entered into a support agreement with Kejriwal Group International ("KGI").