Paper Excellence has recently invested more than $600,000 in engineering and consulting work focused on restarting the Prince Albert pulp mill. Paper Excellence originally purchased the Prince Albert pulp mill in 2011. It now plans to restart the facility as soon as possible once the current non-compete agreement with the former owner expires in March 2021. “We plan to replace the entire fibre line from the digester to the last bleaching stage. This will replace the heart of the mill and let us take full advantage of the existing recovery boiler which is one of the most modern in Canada,” explains Carlo Dal Monte, Vice President, Energy & Business Development. “While this is an expensive strategy, it will simplify construction and minimize commissioning risks. Once we are up and running, we will also realize a significant improvement in product quality, operating costs and environmental performance compared to the mill that was shut down in 2006.”

Clearwater Paper Corporation introduced NuVo® withBioPBS™, a sustainable cup stock that provides foodservice operators with a compostable alternative to hot cups coated with low-density polyethylene. NuVo® withBioPBS™ is the first cup stock to combine a compostable barrier, 35% post-consumer fiber, Forest Stewardship Council® (FSC®) chain-of-custody certification (FSC-C008402), and a high-definition print surface. “When we launched the NuVo® brand in 2019, we made a promise to continually innovate to maximize product differentiation and sustainability. We are pleased to continue delivering on that commitment by introducing NuVo® withBioPBS™, a next-generation cup stock that we believe will allow our customers to be at the forefront of growing trends in sustainability,” said Steve Bowden, senior vice president and general manager of the pulp and paperboard division.

Fourth Quarter of 2021 Highlights *The fourth quarter of 2021 (“Q4 2021”) was the Company’s first full quarter operating its newly acquired forest products business **Q4 2021 net earnings of $8.0 million or $0.04 earning per share *Lumber pricing improved in Q4 2021 and into 2022 with continued volatility expected *Made significant strides in reducing reliance on transitional services arrangement with key hires in human resources, IT and accounting *Asset backed revolving loan facility of $65.0 million was undrawn at December 31, 2021 and has remained undrawn at March 23, 2022. Cash from operations has funded the seasonal log inventory build-up *Invested in Boreal Carbon Corporation, an entity focused on acquiring and managing forestry projects in North America to generate carbon credits