KINGSEY FALLS, QC, Oct. 27, 2021 /PRNewswire/ - Cascades Inc. ("Cascades") (TSX:CAS.TO) today announced that it has commenced cash tender offers (each, a "Tender Offer" and collectively, the "Tender Offers") for up to $200,000,000 aggregate principal amount (the "Aggregate Maximum Tender Amount") of its (i) 5.375% Senior Notes due 2028 (the "2028 Notes") and (ii) 5.125% Senior Notes due 2026 (the "2026 Notes" and, together with the 2028 Notes, the "Notes"), pursuant to the terms and subject to the conditions set forth in the Offer to Purchase, dated October 27, 2021 (as it may be amended or supplemented, the "Offer to Purchase"), subject to (a) the aggregate principal amount for all 2028 Notes accepted for purchase not exceeding $125,000,000 (before giving effect to any 2028 Notes Sublimit Reallocation (as defined below), the "2028 Notes Sublimit"), (b) the aggregate principal amount for all 2026 Notes accepted for purchase not exceeding $75,000,000 (the "2026 Notes Sublimit") and (c) in the event that less than $75,000,000 aggregate principal amount of 2026 Notes are validly tendered and not validly withdrawn by the Early Tender Date or the Expiration Date, as applicable, Cascades may, in its discretion, increase the 2028 Notes Sublimit by an amount up to the difference between $75,000,000 and the aggregate principal amount of 2026 Notes validly tendered and not validly withdrawn and accepted for purchase at the applicable settlement date (the "2028 Notes Sublimit Reallocation").