Business
Take-Over Bid Circular and Accompanying Directors' Circular Recommending the Offer Mailed to EACOM Shareholders April 5, 2013
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nMONTRÉAL and VANCOUVER, April 8, 2013 /CNW Telbec/ - EACOM Timber\n Corporation (TSXV: ETR) (\"EACOM\", or the \"Company\") and Kelso & Company (\"Kelso\") jointly announce that ET Acquisition Corporation (the \"Offeror\"), a corporation indirectly owned by funds managed by Kelso,  has\n mailed its offer to EACOM shareholders, pursuant to a board supported\n take-over bid to acquire all of the common shares of EACOM for $0.38 in\n cash per common share (the \"Offer\") and the accompanying take-over bid circular (the \"Take-Over Bid Circular\") concurrently with EACOM's directors' circular (together, the \"Circulars\") recommending the bid to EACOM shareholders.\n\n\nThe Offer represents a premium of 46.2% to EACOM's closing share price\n of C$0.26 on the TSX Venture Exchange (the \"TSX-V\") on March 21, 2013, the last trading day prior to the announcement of\n the Offer, and a premium of 63.7% to the volume weighted average price\n of the EACOM common shares trading on the TSX-V for the 30 trading day\n period ending on that date.\n\n\nThe Offeror has mailed the Offer and the accompanying Take-Over Bid\n Circular to shareholders concurrently with the EACOM directors'\n circular containing the EACOM board of directors' (the \"Board of Directors\") unanimous recommendation that EACOM shareholders accept the Offer and\n deposit their common shares under the Offer.\n\n\nThe expiry time of the Offer will be 5:00 p.m. (Toronto time) on May 13,\n 2013 (the \"Expiry Time\").\n\n\nCopies of the Circulars are available for review under EACOM's public\n profile on SEDAR at www.sedar.com.\n\n\nRecommendation from Board of Directors of EACOM to Deposit\n\n\nThe Board of Directors appointed a special committee (the \"Special Committee\") to consider strategic alternatives with a view towards maximizing\n shareholder value.\n\n\nCanaccord Genuity Corp. is acting as exclusive financial advisor to\n EACOM and is acting as financial advisor to the Special Committee.\n Sanabe & Associates, LLC is acting as independent financial advisor to\n the Special Committee. Canaccord Genuity Corp. and Sanabe & Associates,\n LLC have each delivered a fairness opinion to the Board of Directors\n and the Special Committee to the ef...