EACOM Timber Corporation $33 million Secured Debt Financing by Fairfax

[Grenville]

"EACOM Timber Corporation Announces $40 million Secured Debenture Financing backed by Fairfax Financial Holdings Limited and Lansdowne UK Strategic Investment Master Fund Limited"

http://www.digitaljournal.com/pr/639703#ixzz1qLPG1bdm

http://www.eacom.ca/media/press-releases/eacom-timber-corporation-announces-40-million-secured-debenture-financing

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Details:

+10% coupon

+ Fairfax will nominate two directors to the board

+ Detachable warrants that provide up to 26% ownership if excercised.

 

Eacom:

"EACOM Timber Corporation is a TSX-V listed company. EACOM owns eight sawmills, all located in Eastern Canada, and related tenures."