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EACOM Timber Corporation
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Vancouver, British Columbia, 08 August 2009 -- (MarketWire) -- EACOM Timber Corporation (NEX: ETR.H) today announced the company has completed its previously announced nonbrokered private placement. The private placement consisted of 10,000,000 units for gross proceeds of CAD 800,000. The securities are subject to a hold period that expires on 27 December 2009.

Each unit represents one common share and one warrant to purchase a common share. The units were priced at CAD 0.08 per unit. Each warrant entitles the holder to acquire one common share for a price of CAD 0.25 until the first anniversary of the private placement closing. The warrants are required to be exercised in certain circumstances. The warrants will not be eligible for listing.

The company intends to use the proceeds to pursue asset acquisitions in the forestry sector and for general corporate purposes.

The Radcliffe Foundation controlled by Frank Giustra of 595 Burrard Street, Suite 3123, Vancouver British Columbia V7X 1J1, subscribed for 4,000,000 units consisting of 4,000,000 common shares and 4,000,000 warrants to acquire common shares. At the closing, the Radcliffe Foundation owns 4,000,000 common shares representing 7.95% of the outstanding capital in the company. It also owns 4,000,000 warrants. Assuming the exercise of the 4,000,000 warrants, The Radcliffe Foundation would own 8,000,000 common shares representing approximately 14.73% of the then outstanding shares of the company assuming the only warrants exercised were the warrants held by The Radcliffe Foundation. The company is advised that the securities were acquired by The Radcliffe Foundation for investment purposes. While it does not currently have any intention to acquire further securities of the company, the Radcliffe Foundation may in the future acquire or dispose of securities of the company, through the market or otherwise as circumstances or market conditions warrant.

Cidel Trust Company as Trustee for The Rainy Day Trust of Lord Denning House 509-20th Avenue SW, Calgary, Alberta T2S 0E7 subscribed for 4,625,000 units consisting of 4,625,000 common shares and 4,625,000 warrants to acquire common shares. At the closing, The Rainy Day Trust owns 4,625,000 common shares representing 9.19% of the outstanding capital in the company. It also owns 4,625,000 warrants. Assuming the exercise of the 4,625,000 warrants, The Rainy Day Trust would own 9,250,000 common shares representing approximately 16.84% of the then outstanding shares of the company assuming the only warrants exercised were the warrants held by The Rainy Day Trust. The company is advised that the securities were acquired by The Rainy Day Trust for investment purposes. While it does not currently have any intention to acquire further securities of the company, The Rainy Day Trust may in the future acquire or dispose of securities of the company, through the market or otherwise as circumstances or market conditions warrant.



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