Catalyst Paper announced today that it has completed the
sale of its approximately 50% interest in Powell River Energy Inc. and Powell
River Energy Limited Partnership to Powell River Energy Trust, a Brookfield
Renewable Energy affiliate, for 33 million.
Approximately 12.7 million of the net proceeds of the sale
will be distributed to certain unsecured creditors of Catalyst pursuant to its
plan of arrangement under the Companies' Creditors Arrangement Act through the
Monitor, Pricewaterhouse Coopers. The company will offer to purchase a portion
of its Floating Rate Senior Secured Notes with the balance of the net proceeds
