The Government of Newfoundland and Labrador has signed a letter of intent with Kruger, the owner of Corner Brook Pulp and Paper, to continue discussions related to its diversification plan, specifically a long-term power purchase agreement between the company and Newfoundland and Labrador Hydro. The Provincial Government plans to extend the current interim power purchase agreement for 12 months, beginning July 1, 2026, and ending June 30, 2027. The Provincial Government is also prepared to discuss a long-term agreement to provide additional certainty for Corner Brook Pulp and Paper sustainability and potential growth. The company will continue to develop wood supply agreements with provincial sawmill operators and expand investments in silviculture. Kruger will continue to operate its mill with one paper machine and maintain its current workforce while the letter of intent is in effect. The parties also agree to explore implementing the company’s long-term diversification project.