Business
EACOM Timber Corporation To Acquire Remaining One-Third of the Elk Lake Sawmill
May 13, 2011 (Canada NewsWire Group) -- MONTREAL and VANCOUVER, May 13 /CNW Telbec/ - EACOM T...
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n May 13, 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\nMONTREAL and VANCOUVER, May 13 /CNW Telbec/ - EACOM Timber Corporation\n (TSXV: ETR) ("EACOM", or the "Company") announced today that it has\n entered into an asset purchase agreement with Liskeard Lumber Limited\n to acquire the remaining one-third of the Elk Lake sawmill for a cash\n consideration of approximately $15 million. EACOM currently owns\n two-thirds of the mill. The transaction is subject to a number of\n customary closing conditions, and closing is expected on July 31, 2011.\n Part of the proceeds from the recent financing will be used to pay the\n purchase price. The Elk Lake sawmill is located near Elk Lake, Ontario.\n\n\n''We are pleased to add the full Elk Lake sawmill facility to our\n operations. It allows us to combine our assets to reduce costs and\n achieve better productivity. The addition also provides an opportunity\n to expand our random length lumber business in Ontario," said Mr. Rick\n Doman, President and CEO of EACOM. "We have had a good partner in John\n Wilson at Liskeard Lumber and wish him the best".\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 Val-d'Or, Ste-Marie and\n Matagami in Quebec. The equity interest is in the...