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EACOM and Kelso announce extension of offer to June 14, 2013
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About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n\n\n\n/Not for Distribution to U.S. Newswire Services or for Dissemination in\n the United States/\n\n\nMONTREAL and VANCOUVER, May 10, 2013 /CNW Telbec/ - EACOM Timber\n Corporation (TSXV: ETR) (\"EACOM\") and Kelso & Company (\"Kelso\") jointly announce that ET Acquisition Corporation (the \"Offeror\"), a corporation indirectly owned by funds managed by Kelso, has\n extended the expiry time of the offer by the Offeror to acquire all of\n the common shares of EACOM (the \"Common Shares\") for $0.38 in cash per common share (the \"Offer\") until 5:00 p.m. (Toronto time) on June 14, 2013 (the \"Expiry Time\") to allow required regulatory approvals to be obtained. All other\n terms and conditions of the Offer described in the Offeror's Offer and\n Circular dated April 5, 2013 remain the same.\n\n\nThe Offeror's obligation to take up and pay for EACOM Shares deposited\n under the Offer is conditional upon, among other things, required\n regulatory approvals and consents having been obtained. These include\n consents of the Ontario Ministry of Natural Resources (\"OMNR\") under applicable legislation with respect to the deemed transfer of\n certain forestry licences. Together, EACOM and Kelso have submitted an\n application and documentation to the OMNR and are in ongoing\n discussions with the OMNR in order to satisfy their review process in\n an efficient manner. As of the date hereof, the required consents of\n the OMNR have not yet been obtained. The Offeror anticipates, though\n there can be no assurance, that such consents will be obtained prior to\n the Expiry Time. Under the Support Agreement between EACOM and the\n Offeror, the Offer must be extended for further specified periods to\n allow additional time for the consents to be obtained, if possible.\n\n\nThe Offer is now open for acceptance until 5:00 p.m. (Toronto time) on\n June 14, 2013 unless further extended, and is conditional upon, among\n other things, customary regulatory approvals and there having been\n validly deposited (and not withdrawn), together with any Common Shares\n owned or controlled by the Offeror and its affiliates, at least 662/3% of the outstanding Common Shares (on a fully-diluted basis).\n\n\nA notice announcing the extension of the Offer will be sent by the\n Offeror to EACOM shareholders. The notice will also be available for\n revi...