EarthFirst Enters Into Agreement to Sell Development Assets in British Columbia, Saskatchewan and Newfoundland and Labrador



    
    /NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES WIRE
    SERVICES/
    

    CALGARY, June 11 /CNW/ - EarthFirst Canada Inc. ("EarthFirst") announced
today that it has entered into binding agreements with Avro Wind Energy Inc.
("Avro") to sell a majority of its remaining development assets. These assets
include EarthFirst's development projects in British Columbia (excluding the
Dokie Project), the Benchlands Wind Power Project in Saskatchewan, and the
Bonavista Wind Power Project in Newfoundland. As a result of these
transactions, EarthFirst will receive funds of approximately $860,000 by way
of purchase price consideration and release of deposits held in support of a
letter of credit plus applicable sales tax.
    The completion of the Sales are subject to, among other customary closing
conditions including assignment of various land tenure documents, approval by
the Court of Queen's Bench of Alberta pursuant to EarthFirst's current
proceedings under the Companies Creditors' Arrangement Act. Application for
the approval of the sale is expected to be heard on June 25, 2009, and,
assuming court approval is obtained, the completion of the Sales are expected
to occur on or about June 26, 2009 for approximately half the purchased assets
and on or about July 15, 2009 for the remaining assets.

    Certain statements included in this news release constitute
"forward-looking information" within the meaning of applicable securities
legislation including the timing of the court approval and the timing of the
anticipated completion of the Sales. Such forward-looking information involves
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of EarthFirst to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking information.
    Specifically, some of the material risks include not being able to obtain
the court approval or not being able to meet some or all of the Sale's closing
conditions. In providing such forward-looking information we have made various
assumptions regarding, among other things customary timing of the receipt of
court approval.
    The forward-looking information contained in this news release represents
the expectations of EarthFirst as of June 11, 2009 and, accordingly, is
subject to change after such date. EarthFirst expressly disclaims any
intention or obligation to update or revise forward-looking information,
whether as a result of new information, future events or otherwise, except as
required by applicable law.





For further information:

For further information: Brian Trypka, Chief Restructuring Officer,
EarthFirst Canada Inc., Tel: (403) 513-0780, Toll Free: 1-877-513-0777,
E-mail: btrypka@earthfirstcanada.com; Derren Newell, VP, Finance and Chief
Financial Officer, EarthFirst Canada Inc., Tel: (403) 513-0766, Toll Free:
1-877-513-0777, E-mail: dnewell@earthfirstcanada.com

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EARTHFIRST CANADA INC.

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