VANCOUVER, B.C. MONTREAL, QUEBEC— EACOM Timber Corporation (TSX VENTURE: ETR; “EACOM” or the “Company”) today announced that at its annual general meeting held today, it has elected two new directors to its Board. Joseph (Jay) Gurandiano and Gilles Masson, C.
Jay is the Managing Director of Stone House Investment Holdings Inc., an investment holdings company. He is a director of Xerium Technologies Inc. (NYSE:XRM). He also served as the Chairman of the Board of Directors of Ainsworth Lumber Co. Ltd., a lumber and wood products company, until May 2010. Jay has been appointed the Chair of the Corporate Governance, Nominating and Human Resources Committee.
Gilles is a corporate director of several public companies including MALAGA Inc., Royal Nickel Corporation and SEMAFO Incs. Prior to his retirement in 2005, he was a partner of the firm PricewaterhouseCoopers LLP. Gilles has been appointed the Chair of the Audit Committee.
”We welcome Jay and Gilles to our Board. They will bring additional independence and skills to our Board. This is a further important step in positioning EACOM for growth,” said Rick Doman, President and Chief Executive Officer.
EACOM Timber Corporation is a TSX-V listed company. EACOM owns seven sawmills and an equity interest in an eighth sawmill, all located in Eastern Canada and related tenures. The mills are Timmins, Nairn Centre, Gogama and Ear Falls in Ontario and Val-d’Or, Ste-Marie and Matagami in Quebec. The equity interest is in the Elk Lake sawmill located in Ontario. The sawmills in Ear Falls, Ontario, and Ste-Marie, Quebec, are currently idled. EACOM also owns one idle mill in Big River Saskatchewan. EACOM also owns a remanufacturing facility and a 50% interest in an “I” joist plant.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. All director and officer appointments are subject to TSX Venture Exchange approval.
All statements in this news release that are not based on historical fact 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 that 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 the current MD&A for EACOM Timber Corporation on file with the Canadian Securities Commissions.
Tel: 514-395‐0375 ext. 259