Business News

Fraser Papers Provides Default Status Report

Monday 04. October 2010 - Fraser Papers Inc. ("Fraser Papers" or the "Company") is providing this second Default Status Report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults.

In its news release on August 30, 2010, the Company announced that it was not able to file its financial statements for the interim period ended July 3, 2010, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Required Documents”) by the September 1, 2010 due date.

Fraser Papers remains under creditor protection pursuant to the provisions of the Companies’ Creditors Arrangement Act (“CCAA”), with its stay of proceedings having been extended by the court to October 29, 2010.

The Company is working diligently to finalize the accounting for certain restructuring transactions and expects to file the Required Documents as soon as is practicable.