Business
EACOM Timber Corporation Secures $50 Million Credit Facility From GE Capital
EACOM Timber Corporation Secures $50 Million Credit Facility From GE Capital
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n\n Nov. 25, 2010 (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\nVANCOUVER and MONTREAL, Nov. 25 /CNW Telbec/ - EACOM Timber Corporation (TSX VENTURE: ETR; "EACOM" or the "Company")\n today reported that it has entered into a three-year, $50 million\n revolving credit facility agreement with GE Capital in Canada.  The\n facility will be used to fund working capital and general corporate\n purposes.\n\n\nMr Rick Doman, President and CEO of EACOM Timber Corporation, said "we\n are very pleased to enter into this agreement with GE Capital.   GE\n Capital's experience in structuring transactions in the forestry sector\n was instrumental in identifying a flexible financial structure that\n would not only answer our immediate needs, but would also support\n future growth opportunities as we pursue our vision of becoming a\n global softwood lumber Company." \n\n\n"It is very satisfying to see our customers take full advantage of GE's\n deep domain expertise," said Ellis Gaston, General Manager, GE Capital\n Corporate Finance Canada. "We look forward to supporting EACOM's\n continued growth."\n\n\nFacility Details\nUnder the terms of the facility, amounts drawn and to be repaid are\n determined by a borrowing base calculation that fluctuates with\n eligible receivable and inventory balances (net of reserves). \n Borrowings can be in $Cdn or $US.  Interest rates on Canadian dollar\n borrowings are based on eithe...