EACOM Timber Corporation Announces the Closing of the Acquisition of the Remaining One-Third of the Elk Lake Sawmill

2011-08-04 | News / Press Releases

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.

 

INVESTORS :

Marc Girard
Executive Vice‐President and Chief Financial Officer

Tel: 514-848‐5133

 

MEDIA RELATIONS:

Frédéric Bérard
H+K Stratégies

Tel: 514-395‐0375 ext. 259


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