_A16~The Terrace Standard, Wednesday, June 23, 2004... |

- ea that efloctivey enabled the er ei Monitor to. receive offs from salture fads or. liquid rs
This decision | paves the: way fora deal to be concluded i in ‘the coming days t that i isin the long- -term. best interest 7
a of the Northwest. ‘The presiding justice saw all the information and based his judgment on. the concrete progress i:

| made i in the ast several months and the very strong likelihood that a transaction will’ be bompleted by July Sth. :

: “Nweet Timbet and Pp Limited has been working ttlessly to find: a ‘ituncial partner ‘with the ecinintme to
the region, long: term: vision, and financial strength t to ‘support and share our goal of ‘making. New: Skeena the
wealth and amploymedt on creator for the sommunty that we e know it can LD We have found that pata .

“ - Our investor j is a very substantial enierdriég with a net 4 worth which exceeds $20 billion, ‘They a are an n extreme
a “suiecessful group of people of exceptional quality, integrity. and talent whose investment strategy is ‘focused on
. ~-the long term, ‘Their: ‘philosophy - as ours-has always | been - 1s fo focus on ‘the: fondamental Is of the business”
» because that’s ‘what. drives solid, sustainable. and profitable investments - — in, good. times and bad: They: approach
“their investment decisions with great care. and diligence. ‘Their investment will be, in n large part, in the form of an
Pl “equity financing. That means that New Skeena will not have. the bi rden ofa an onerous plague
“ S a and even’ nipped the former company it in the te past . :

; os P voneiderails amount itof time e with o ‘our pail ‘One of the elements of foee story a ate He is the
to skill, compete nergy and dedication of New: Skeena’ s people, At the end of the day, that's ¥ what. thoughtful

-T 4 my: solkgios and I will be ve completing th these agreements. As part of these, interim ee will be wut in woh.
|) and subj ect to court approval; ‘we hope and expect to:commence road- building, and logging operations by late”
- July, in time to properly f fibre the: sawmills and chipping operations. Subject to.a vote of creditors and thei .
- “epee we. se sipedt tor resume. ie solid wood operations in Te errace: and Camaby i in September, a