VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 8, 2016) - Fortress Paper Ltd. ("Fortress Paper" or the "Company") (TSX:FTP) announces that its wholly owned-subsidiaries, Fortress Global Cellulose Ltd. and Fortress Lumber Corp., have entered into an amendment to the previously announced asset purchase agreement with LSQ Energy, L.P. and LSQ Development, L.P. dated June 22, 2016 (the "APA") relating to the sale of the Fortress Global Cellulose Mill assets, to extend the closing date of the APA to on or before July 29, 2016.

About Fortress Paper

Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products. The Company operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada, which has expanded into the renewable energy generation sector with the construction of a cogeneration facility. The Company operates its security paper products business at the Landqart Mill located in Switzerland, where it produces banknote, passport, visa and other brand protection and security papers.

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Fortress Paper Ltd.