Sep 16, 2010. /Lesprom Network/. Terrace Bay Pulp has been cleared for re-opening. The Buchanan Group has announced that it exited creditor protection. Now 340 people can be recalled to their jobs at the mill in Terrace Bay, Ontario, Canada, as ForestTalk reported. The deal was finalized with $30 million in investment capital provided by Callidus Capital Corporation. With Callidus' investment, Terrace Bay Pulp has ensured that it will receive a $25 million loan from the province of Ontario. This loan was conditional on finding additional financing that would used to pay off nearly $35 million that Terrace Bay Pulp owes to creditors. Currently the company is aiming to have the mill producing pulp by the first week of October. Woodland operations will restart immediately.