TORONTO, ONTARIO--(Marketwired - April 8, 2013) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP"), has acquired 435,000 common shares ("Shares") of EACOM Timber Corporation ("EACOM") since a take-over bid for all of the outstanding Shares was filed by ET Acquisition Corporation, a corporation indirectly owned by funds managed by Kelso & Company, with the securities regulatory authorities on April 8, 2013. The Shares were acquired through the facilities of the TSX Venture Exchange.
MMCAP now beneficially owns and MMAM exercises control and direction over 32,154,998 Shares, representing approximately 6.71% of the outstanding Shares based on 478,880,000 outstanding Shares as of March 18, 2013 as per EACOM's Management Discussion and Analysis.
MMCAP has acquired such securities for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of EACOM or dispose of such securities in the open market, by private agreement or otherwise.