Business
EACOM Timber Corporation Closes $34.6 Million Best Efforts Private Placement
Apr. 20, 2011 (Canada NewsWire Group) -- MONTRÉAL AND VANCOUVER, April 20 /CNW/ - EACOM ...
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n Apr. 20, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nMONTRÉAL AND VANCOUVER, April 20 /CNW/ - EACOM Timber Corporation (ETR:\n TSX-V) ("EACOM", or the "Company") is pleased to announce that it has\n closed its previously announced best efforts private placement, sold by\n a syndicate of agents led by Canaccord Genuity Corp., and including\n Dundee Securities Ltd. (collectively, the "Agents").  The financing\n consisted of 69,122,500 common shares of the Company (the "Common\n Shares") sold at $0.50 per Common Share for gross proceeds of\n $34,561,250, including the partial exercise of the Agents'\n over-allotment option for 9,122,500 Common Shares.\n\n\nThe net proceeds from the Financing will be used for working capital and\n general corporate purposes, including for potential acquisitions.\n\n\nThe Agents will receive a cash commission equal to 6.0% of the gross\n proceeds, and broker warrants in an amount equal to 6.0% of the number\n of Common Shares sold by the Agents. The Agents' warrants expire 24\n months after closing of the financing. All securities sold pursuant to\n the financing will be subject to a statutory four month hold period.\n\n\nAbout EACOM\n\n\nEACOM Timber Corporation is a TSX-V listed company. EACOM owns seven\n sawmills and an equity interest in an eighth sawmill, all located in\n Eastern Canada, and related tenures. The mills are Timmins, Nairn\n Centre, Gogama and Ear Falls in Ontario, and ...