Business
EACOM Timber Corporation Announces Board Changes
EACOM Timber Corporation Announces Board Changes
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n\n Jul. 7, 2010 (Canada NewsWire Group) -- VANCOUVER and MONTREAL, July 7 /CNW Telbec/ - EACOM Timber Corporation (TSX VENTURE: ETR; "EACOM" or the "Company") is pleased to announce that following its recently announced acquisition of the Forest Products business of Domtar Corporation, it has undertaken a number of changes to its Board. Patrick Loulou, Senior Vice-President Corporate Development of Domtar Corporation has joined the Board as a nominee of Domtar Corporation. Domtar Corporation owns approximately 12% of the issued and outstanding common shares of the Company as a result of the acquisition. Mr. Paul Reynolds and Mr. Frank Giustra, have also joined the Board. Mr. Terry Lyons will take over as Chairman of the Company. Mr. Alan Savage and Mr. Michael Liggett have resigned from the Board to allow new leadership. Mr. Liggett continues as the CFO of the Company.\nMr. Lyons stated "We are very pleased to have each of Mr. Loulou, Mr. Reynolds and Mr. Giustra join our Board. Their combined expertise and experience in forestry, resources and emerging companies will be invaluable as the Company embarks on its vision to be a Global lumber company. These are exciting times for the Company and we will surely benefit from their insight and guidance.\nI would also like to thank Mr. Alan Savage, both personally and on behalf of the Company for his guidance over the past few years as the Company developed and implemented its plan to become a leader in the timber sector in Canada" he concluded.\nPaul Reynolds is the President and Chief Executive Officer of Canaccord Financial Inc. (TSX). He was previously the Chief Operating Officer of Canaccord Corp., and in that capacity he was responsible for managing Canaccord's office in London, England and is very active in Canaccord's European investment banking operations. Mr. Reynolds was Vice Chair, Head of Global Capital Markets, for the Canaccord group. Mr. Reynolds has over 25 years of experience in the securities industry beginning as a trader on the floor of the Vancouver Stock Exchange. Since starting with Canaccord in 1985, Mr. Reynolds has worked as an Investment Advisor in Vancouver and specialized in financing emerging and developing companies in the technology and biotechnology sectors, with a focus on institutional clients principally in Europe...