EACOM Timber Corporation Completes Sale of Big River Mill
17 September 2011 - 1:39PM
PR Newswire (Canada)
MONTRÉAL and VANCOUVER, Sept. 20, 2011 /CNW Telbec/ - EACOM Timber
Corporation ("EACOM", or the "Company") announced today the
completion of the sale of the Big River Sawmill in Saskatchewan
(the "Mill") to Carrier Forest Products Ltd. ("Carrier"). On
January 5, 2010 EACOM acquired the Mill. The Mill was idled
when purchased. Eacom has been diligently working to obtain
the timber rights necessary to re-open the Mill for operation since
then but has been unable to obtain any timber rights from the
Government of Saskatchewan. EACOM made the difficult decision
to sell the idled Mill and today has completed the sale of the Mill
on an "as is, where is" basis to Carrier for a purchase price of
$7.5 million. About EACOM EACOM Timber Corporation is a TSX-V
listed company. The business activities of EACOM consist of the
manufacturing, marketing and distribution of lumber, wood chips and
wood-based value-added products, and the management of forest
resources. EACOM owns eight sawmills, 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 a
remanufacturing facility in Val-d'Or, Quebec, and a 50% interest in
an "I" joist plant in Sault Ste-Marie, Ontario. 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 beyond our control and 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 "Risk Factors" in the
Company's Filing Statement dated January 8, 2010 and "Risks and
Uncertainties" in the Company's current MD&A filed with the
Canadian Securities Commissions. Additional information relating to
EACOM is available on SEDAR at www.sedar.com. The TSX Venture
Exchange has neither approved nor disapproved the content of this
press release. EACOM TIMBER CORPORATION CONTACT: Investors:Marc
GirardExecutive Vice-President and Chief Financial Officer(514)
848-5133Media Relations:Frédéric BérardHKDP(514) 917-1040
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