Business
EACOM Timber Corporation Announces the Formation of a Special Committee to Conduct a Strategic Review Process
MONTREAL and VANCOUVER, Jan. 9, 2013 /CNW Telbec/ - EACOM Timber Corporation (TSXV: ETR) ("...
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL and VANCOUVER, Jan. 9, 2013 /CNW Telbec/ - EACOM Timber\n Corporation (TSXV: ETR) (\"EACOM\", or the \"Company\") today announced\n that the Board of Directors of the Company has established a special\n committee of independent directors (the \"Special Committee\") to\n consider strategic alternatives that may be available to the Company\n with the objective of seeking to maximize shareholder value. The\n Company has been presented with a number of opportunities. The mandate\n of the Special Committee is to review these and other opportunities and\n recommend a strategic course of action to the Board. There are no\n assurances that the strategic review process will lead to any action.\n Further information will be provided if the Company intends to propose\n a strategic course of action.\n\n\nThe Special Committee is composed of Terry Lyons (Chair), Frank Guistra,\n Jay Gurandiano and Chris Hodgson who are members of the Board of\n Directors of the Company and are considered independent.\n\n\nThe Special Committee may retain, at the expense of EACOM, independent\n advisors to assist in its review and evaluation of alternatives and to\n otherwise assist the Special Committee in the discharge of its mandate.\n\n\nAbout EACOM\n\n\nEACOM Timber Corporation is a TSX-V listed company. The business\n activities of EACOM consist of the manufacturing, marketing and\n distribution of lumber, wood chips and wood-based value-added products,\n and the management of forest resources. EACOM owns eight sawmills, all\n located in Eastern Canada, and related tenures. The mills are Timmins,\n Nairn Centre, Gogama, Elk Lake and Ear Falls in Ontario, and Val-d'Or,\n Ste-Marie and Matagami in Quebec. The mills in Ear Falls, Ontario and\n Ste-Marie, Quebec are currently idled. The mill in Timmins was\n seriously damaged by fire in January 2012 and remains shut down. EACOM\n also owns a lumber remanufacturing facility in Val-d'Or, Quebec, and a\n 50% interest in an \"I\" joist plant in Sault Ste-Marie, Ontario.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved the\n content of this press release. All director and officer appointments\n are subject to TSX Venture Exchange approval.\n\n\nForward-Looking Statements\n\n\nAll statements in this news release that are not based on historical\n facts are \"forward-loo...