Notice of Hearing: In the Matter of Fibrek Inc.

IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED

- AND -

IN THE MATTER OF FIBREK INC.
AND
IN THE MATTER OF A DECISION OF THE TORONTO STOCK EXCHANGE

NOTICE OF HEARING
(Section 21.7 of the Act)

TAKE NOTICE THAT the Ontario Securities Commission will hold a hearing pursuant to section 21.7 of the Securities Act, R.S.O. 1990, c. S.5, as amended, to consider the Application made by Fibrek Inc. dated March 21, 2012 for a review of decision of the Toronto Stock Exchange made March 20, 2012;

AND TAKE FURTHER NOTICE THAT the hearing will be held on March 28, 2012 at 10:00 a.m. on the 17th floor of the Commission’s offices located at 20 Queen Street West, Toronto.

Dated at Toronto this 23^rd day of March, 2012