FIBREK INC 
By TSX: FBK
fibrek.com
FIBREK FILES DIRECTORS' CIRCULAR RECOMMENDING ACCEPTANCE OF THE MERCER OFFERMONTREAL, February 29, 2012 - Fibrek Inc. ("Fibrek" or the "Company") announced today that it has filed its Directors' Circular reaffirming its previous recommendation that Fibrek shareholders TENDERto the offer to acquire all of the outstanding common shares of Fibrek (the "Mercer Offer") made by Mercer International Inc. ("Mercer"). Mercer also filed the take-over bid circular in connection with the Mercer Offer to Fibrek shareholders today.
The consideration to be offered for each common share of
Fibrek under the Mercer Offer will be, at each shareholder's
option, (i) $1.30 in cash; (ii) 0.1540 of a share of Mercer
common stock ("Mercer Shares"); or (iii) $0.54 in
cash plus 0.0903 of a Mercer Share, subject to proration on
the basis of a maximum of
$70 million in cash and approximately 11.7 million Mercer
Shares.
The Directors' Circular describes in detail the reasons
for the recommendation, which in summary, include the
following:
