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                                                                     EXHIBIT 4.7

                       GUARANTEE AND POSTPONEMENT OF CLAIM

TO: FIRST ONTARIO LABOUR SPONSORED INVESTMENT FUND LTD.

FOR VALUABLE CONSIDERATION, the undersigned, STRIKER HOLDINGS (CANADA) INC., a
corporation incorporated pursuant to the laws of the Province of Ontario (herein
referred to as the "Guarantor"), to the extent permitted by applicable law,
hereby guarantees payment to FIRST ONTARIO LABOUR SPONSORED INVESTMENT FUND LTD.
(hereinafter referred to as the "Lender"), forthwith after demand as hereinafter
provided for all of the liabilities which STRIKER PAPER CANADA, INC. (herein
referred to as "Striker") has incurred or is under or may incur or be under to
the Lender pursuant to a certain shareholders agreement dated March 20, 1998
made between Striker Holdings (Canada) Inc., the Lender and Striker as the same
may be amended, modified or supplemented from time to time (the "Agreement").

Subject to section 5 herein, the liability of the Guarantor hereunder shall be
limited to the amount referred to as the Maximum Amount in section 6 herein, in
lawful money of Canada, together with interest on the said sum at the rate of
20% per annum calculated semi-annually not in advance commencing upon demand for
payment hereunder by the Lender until the amount demanded shall be paid in full.

And the Guarantor agrees:

1. EXTENSIONS & INDULGENCES DO NOT RELEASE. That the Lender may grant extensions
of time or other indulgences, take and give up securities, accept compositions,
grant releases and discharges and otherwise deal with Striker and the other
parties and securities as the Lender may see fit, and may apply all moneys
received from Striker or others, or from securities, upon such part of Striker's
liability pursuant to the Agreement as it may think best, without prejudice to
or in any way limiting or lessening the liability of the Guarantor under this
guarantee.

2. LENDER NOT BOUND TO EXHAUST RECOURSE. That the Lender shall not be bound to
exhaust its recourse against Striker or other parties or the securities it may
hold before being entitled to payment from the Guarantor under this guarantee.

3. LOSS DOES NOT DISCHARGE. That any loss of or in respect of securities
received by the Lender from Striker or any other person, whether occasioned
through the fault of the Lender or otherwise, shall not discharge pro tanto or
limit or lessen the liability of the Guarantor under this guarantee.

4. A CONTINUING GUARANTEE. This shall be a continuing guarantee and shall cover
present liabilities (if any) of Striker to the Lender and all liabilities
incurred after the date hereof pursuant to the Agreement and shall apply to and
secure any ultimate balance due or remaining due to the Lender pursuant to the
Agreement and shall be binding as a continuing security on the Guarantor.

5. A LIMITED RECOURSE GUARANTEE. Recourse under this Guarantee shall be limited
to the remedies and proceeds obtained from the enforcement of the stock pledge
and proxy arrangement agreement given as collateral security for the obligations
of the undersigned hereunder.

6. AMOUNT OF GUARANTEE. This Guarantee shall be limited to the sum of:

      (A)      $1.0 million; plus



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      (B) the product of:

          (i)  First Ontario's Proportionate Share (as defined in the 
               Agreement); and

          (ii) the amount by which the proceeds of sales of all the shares of
               the Corporation exceeds $1.0 million.

      (such sum defined as the "Maximum Amount")

7. NAME CHANGES DO NOT RELEASE. That any change or changes in the name of
Striker, shall not affect or in any way limit or lessen the liability of the
Guarantor hereunder and this guarantee shall extend to the person, firm or
corporation acquiring or from time to time carrying on the business of Striker.

8. LIABILITIES OF AGREEMENT INCLUDED. All moneys, advances, renewals and credits
in fact borrowed or obtained from the Lender under the terms of the Agreement
shall comprise the liabilities hereby guaranteed notwithstanding any incapacity,
disability or lack or limitation of status or of power of Striker or of the
directors, partners or agents thereof, or that Striker may not be a legal
entity, or any irregularity, defect or informality in the borrowing or obtaining
of such moneys, advances, renewals or credits; and any amount which may not be
recoverable from the Guarantor on the footing of a guarantee shall be
recoverable from the Guarantor as principal debtor in respect thereof and shall
be paid to the Lender after demand therefor as hereinafter provided.

9. SETTLED ACCOUNTS CONCLUSIVE. That any account settled or stated by or between
the Lender and Striker shall be accepted by the Guarantor as conclusive evidence
that the balance or amount thereby appearing due by Striker to the Lender is so
due.

10. NO RELEASE UNTIL CONTINGENCIES RESOLVED. That should the Lender receive from
the Guarantor a payment or payments in full or on account of the liability under
this guarantee, the Guarantor shall not be entitled to claim repayment against
Striker or Striker's estate until the Lender's claims against Striker pursuant
to the Agreement have been paid in full; and in case of liquidation, winding up
or bankruptcy of Striker (whether voluntary or compulsory) or in the event that
Striker shall make a bulk sale of any of Striker's assets within the bulk
transfer provisions of any applicable legislation or any composition with
creditors or scheme of arrangement, the Lender shall have the right to rank for
its full claim and receive all dividends or other payments in respect thereof
until its claim has been paid in full and the Guarantor shall continue liable,
up to the amount guaranteed, less any payments made by the Guarantor, for any
balance which may be owing to the Lender by Striker; and in the event of the
valuation by the Lender of any of its securities and/or retention thereof by the
Lender, such valuation and/or retention shall not, as between the Lender and the
Guarantor, be considered as a purchase of such securities, or as payment or
satisfaction or reduction of Striker's liabilities to the Lender, or any part
thereof.

11. PAYMENT DUE ON DEMAND. That the Guarantor shall make payment to the Lender
of the amount of the liability of the Guarantor forthwith after demand therefor
is made in writing and such demand shall be conclusively deemed to have been
effectually made when an envelope containing it addressed to the Guarantor at
the last address of the Guarantor known to the Lender is deposited, postage
prepaid and registered, in the post office.

12. ALL RIGHTS HEREIN IN ADDITION TO OTHER RIGHTS. This instrument is in
addition and without prejudice to any securities of any kind (including without
limitation guarantees and postponement agreements whether or not in the same
form as this instrument) now or hereafter held by the Lender.


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13. ENTIRE AGREEMENT. There are no representations, collateral agreements or
conditions with respect to this instrument or affecting the Guarantor's
liability hereunder.

14. APPLICABLE LAW. This instrument shall be construed in accordance with the
laws of the Province of Ontario and the Guarantor agrees that any legal suit,
action or proceeding arising out of or relating to this instrument may be
instituted in the courts of such province, and the Guarantor hereby accepts and
irrevocably submits to the jurisdiction of such courts and acknowledges their
competence and agrees to be bound by any judgment thereof; provided that nothing
herein shall limit the Lender's right to bring proceedings against the Guarantor
elsewhere.

15. BENEFIT & BINDING. This instrument shall extend to and enure to the benefit
of the successors and assigns of the Lender, and shall be binding upon the
Guarantor and the heirs, executors, administrators, personal representatives,
successors and assigns of the Guarantor.

16. RECEIPT OF COPY ACKNOWLEDGED. The undersigned hereby acknowledges receipt of
a true copy of this instrument.

GIVEN under seal at Toronto, this 20th day of March, 1998.


                                         STRIKER HOLDINGS (CANADA) INC.


                                         Per:
                                             -----------------------------------
                                               Matt Pond



May 18, 1998