EACOM Timber Corporation Announces the Closing of the Acquisition of the Remaining One-Third of the Elk Lake Sawmill
August 04 2011 - 4:52PM
PR Newswire (Canada)
MONTREAL, QUEBEC and VANCOUVER, Aug. 4, 2011 /CNW/ -- MONTREAL,
QUEBEC and VANCOUVER, Aug. 4, 2011 /CNW Telbec/ - Montréal, Québec
and Vancouver, British Columbia - EACOM Timber Corporation (ETR:
TSX-V) ("EACOM", or the "Company") announced today that it closed
the previously announced acquisition of the remaining one-third of
the Elk Lake sawmill from Liskeard Lumber Limited for a
consideration of $15 million. EACOM currently owns two-thirds of
the sawmill. The Elk Lake sawmill is located in Ontario. About
EACOM EACOM Timber Corporation is a TSX-V listed company. EACOM
owns eightsawmills, all located in Eastern Canada, and related
tenures. The mills are Timmins, Nairn Centre, Gogama, Elk Lake and
Ear Falls in Ontario, and Val-d'Or, Ste-Marie and Matagami in
Quebec. The sawmills in Ear Falls, Ontario, and Ste-Marie, Quebec,
are currently idled. EACOM also owns one idled mill in Big River,
Saskatchewan, a remanufacturing facility in Val-d'Or, Quebec, and a
50% interest in an "I" joist plant in Sault Ste-Marie, Ontario. The
TSX Venture Exchange has neither approved nor disapproved the
content of this press release. All director and officer
appointments are subject to TSX Venture Exchange approval.
Forward-Looking Statements All statements in this news release that
are not based on historical facts are "forward-looking statements."
While management has based any forward-looking statements contained
herein on its current expectations, the information on which such
expectations were based may change. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of risks, uncertainties and other
factors, many of which are outside of our control, which could
cause actual results to materially differ from such statements.
Such risks, uncertainties and other factors include, but are not
necessarily limited to, those set forth under the captions "Risk
Factors" of the Filing Statement dated January 8, 2010 and of the
current MD&A for EACOM Timber Corporation on file with the
Canadian Securities Commissions. To view this news release in HTML
formatting, please use the following URL:
http://www.cnw.ca/en/releases/archive/August2011/04/c9552.html p
bInvestors:/bbr/ Marc Girardbr/ Executive Vice-President and Chief
Financial Officerbr/ (514) 848-5133 /p p align="justify" bMedia
Relations:/bbr/ Frédéric Bérardbr/ HKDPbr/ (514) 917-1040 /p
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