Catalyst Paper Price Announcement – Orion & Vision – November 1, 2017 USA

Pursuant to the recommendation from the election and remuneration committee of Norske Skog announced earlier today, several changes in board of directors were proposed to the extraordinary general meeting to be held tomorrow, 24 August 2017. On this basis, the planned public launch of a revised recapitalization transaction will be postponed in order to provide the new board with an opportunity to review the recapitalization transaction and allow for discussions with relevant stakeholders prior to a public launch. In the interim, the work with finalizing the documentation for the committed EUR 16 million liquidity facility continues. As previously announced, a significant majority of senior secured bond holders (SSN) (EUR 290 mill, due in 2019) and the holders of the Norwegian Securitisation Facility (NSF) (EUR 100 mill, due in 2020) have committed to provide a EUR 16 million liquidity facility to support the operating business of Norske Skog. The work with finalizing the documentation for this liquidity facility is being progressed in an expedite manner. Click Read More below for additional detail.

Georgia-Pacific announced significant investments, which total more than $500 million, at its Green Bay, Wisconsin, Broadway mill. The investments will greatly enhance the company's retail consumer tissue and towel business. Investments to the Green Bay mill include building a new paper machine using through-air-dried (TAD) technology, as well as adding associated converting equipment and infrastructure. Engineering and related work is beginning immediately, with startup of the new machine scheduled for the first half of 2024. Approximately 150 jobs will be created to operate the new papermaking complex, in addition to the mill's 850 current employees. The project will have as many as 500 construction and contract-related workers onsite at the mill, fluctuating with project timeline.

FibDex® wound dressing – made from nanofibrillar cellulose by UPM Biomedicals – has taken a significant step in its path to market, as leading medical device distributor Steripolar Oy now sells the product in Finland. FibDex is the first clinical product of renowned forest-based bioindustry company UPM and shows promising signs for future developments, such as cell therapy. ”We are excited to offer this Finnish product, made from Finnish raw material, first in the world to Finnish healthcare professionals and patients,” said Johana Kuncova-Kallio, Director of UPM Biomedicals. “Nanofibrillar cellulose has proven its potential both in the development of cell therapies and in clinical applications, and we are committed to further innovation.” Kaj Dahlström, CEO of Steripolar, added: “We were attracted to the ingenuity of FibDex. We are always looking for products and solutions that offer diverse and pain-free healing, while minimizing damage to the environment.”