EACOM Timber Corporation

EACOM Timber Corporation

August 17, 2009 08:00 ET

EACOM Timber Corporation Announces Proposed Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2009) - EACOM Timber Corporation (NEX:ETR.H) today announced the Company has entered into an agreement and filed a notice of proposed share issuance with the TSX Venture Exchange (NEX) for a non-brokered, private placement of 10,000,000 Units for proceeds of $800,000. The Company intends to use the proceeds to pursue asset acquisitions in the forestry sector and for general corporate purposes.

Each Unit consists of one common share and one warrant to purchase a common share and the Units are priced at $0.08 per Unit. Each Warrant entitles the holder to acquire one common share for a price of $0.25 up until the first anniversary of the private placement closing. The Warrants will not be eligible for listing.

This offering is subject to regulatory approval.

Statements in this news release other than historical information are forward-looking statements subject to risks and uncertainties. Actual results could differ materially depending on factors such as the availability of resources, the timing and effects of regulatory actions, the strength of competition, the outcome of litigation and potential for acquisition transactions. Additional information regarding risks and uncertainties is set forth in the current MD&A for EACOM Timber Corporation on file with the Canadian Securities Commissions.

The TSX Venture Exchange (NEX) does not accept responsibility for the adequacy accuracy of this release.

Contact Information

  • EACOM Timber Corporation
    Michael Liggett
    604.279.8711 (FAX)