Catalyst Paper Corporation (TSX: CYT) ("Catalyst" or the "Company") today announced that it has entered into an Asset Purchase Agreement (the "Agreement") with NewPage Corporation, NewPage Wisconsin System Inc. and Rumford Paper Company (the "Sellers") to purchase the Biron paper mill located in Wisconsin and the Rumford pulp and paper mill located in Maine, USA (the "Paper Mills") for consideration of US$74.0 million, subject to certain adjustments (the "Transaction")