CORNER BROOK, NL – Kruger confirmed today that a significant step has been taken toward advancing its proposed $700 million diversification project at Corner Brook Pulp and Paper Limited (CBPPL), following the issuance of a non-binding letter of intent by the Government of Newfoundland and Labrador. Through this letter, the government has indicated its intention to work toward extending the Mill’s existing power purchase agreement with NL Hydro for an additional twelve months to provide stability while the project is further assessed. This step reflects the Province’s willingness to work collaboratively with Kruger to support CBPPL’s continued operations and long-term future. Since acquiring the Corner Brook Mill more than four decades ago, Kruger has remained committed to ensuring its continued viability despite persistent challenges in publication paper markets.