On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

whereas pursuant to subsection 26(1) of the Crown Forest Sustainability Act, 1994 (the "CFSA"), the Minister of Natural Resources and Forestry (the "Minister") granted to Bancroft Minden Forest Company Inc. (the "Licensee") Sustainable Forest Licence number 542585 covering the Bancroft-Minden Forest, approved by Order in Council O.C. 1777/2001 dated the 18th of July, 2001 (such Sustainable Forest Licence as amended from time to time, the "Bancroft-Minden Forest SFL"), which currently expires on March 31, 2026;

and whereas in accordance with subsection 26(3) of the CFSA the Minister conducted a review to ensure the Licensee has complied with the terms and conditions of the Bancroft-Minden Forest SFL;

and whereas the Minister is satisfied that the Licensee has complied with the terms and conditions of the Bancroft-Minden Forest SFL;

and whereas the Minister now desires to extend the term of the Bancroft-Minden Forest SFL for approximately twelve years in accordance with subsections 26(4) and 26(4.1) of the SFL;

and whereas pursuant to subsections 26(4) and 26(4.1) of the CFSA, the approval of the Lieutenant Governor in Council is required to extend the term of Bancroft-Minden Forest ;

now therefore, pursuant to subsections 26(4) and 26(4.1) of the CFSA, the Minister is hereby given approval to extend the term of the Bancroft-Minden Forest SFL for an additional approximately twelve years such that the term of the Bancroft-Minden Forest SFL would expire on March 31, 2038.

Ministry of Natural Resources and Forestry

Approved and Ordered: December 12, 2018