Nov 30, 2011. /Lesprom Network/. Fibrek announced that its Board of Directors, with the support of its financial and legal advisors, initiated a diligent assessment of the current situation and of the intention of Resolute Forest Products ("Resolute") to make an offer to acquire Fibrek, as previously announced. The Board of Directors will also fully consider any other strategic alternatives available to Fibrek and communicate Fibrek's views to its shareholders in due course, as the company said in a press release received by Lesprom Network. The Board of Directors fears that Resolute's unsolicited offer undervalues Fibrek and its future prospects. "The consideration offered under the Resolute proposal does not capture Fibrek's true value for its shareholders", said Pierre Gabriel Cote, President and CEO of Fibrek. Considering that the complete terms and conditions of Resolute's unsolicited offer are still unknown, the Board of Directors again strongly recommends that shareholders defer making any decision until the Board of Directors has had an opportunity to fully review the offer and make a formal recommendation as to its merits. Shareholders will be promptly notified of any recommendation by the Board of Directors through a news release and circular in accordance with applicable securities laws. In light of the previous announcement by Resolute, Mr. Georges Kobrynsky has informed the Board of his decision to step down from the Board of Directors of Fibrek as a result of an eventual conflict of interest. Mr. Kobrynsky's resignation as a director is effective as of yesterday. "I feel privileged to have been involved with Fibrek since 2008 and wish the best to the company going forward", said Mr. Kobrynsky. "We want to thank Mr. Georges Kobrynsky for his important contribution to Fibrek over the last few years", said Hubert T. Lacroix, Chairman of Fibrek. The Board of Directors will update shareholders from time to time on any developments. TD Securities is acting as financial advisor to Fibrek. Fibrek is a leading producer and marketer of high-quality virgin and recycled kraft pulp. The company operates three mills located in Saint-Felicien, Quebec, Fairmont, West Virginia, and in Menominee, Michigan with a combined annual production capacity of 760,000 tonnes.