CALGARY, Nov. 27 /CNW/ - Cidel Trust Company as Trustee of The Rainy Day Trust of Lord Denning House 509-20th Avenue SW, Calgary, Alberta T2S 0E7 announced that it has purchased for cash 4,625,000 common shares of Eacom Timber Corporation ("Eacom") at a price of $0.25 per share (or $1,156,250 in the aggregate) pursuant to an exercise of warrants of Eacom. The warrants were acquired in a private placement unit transaction on August 26, 2009. Taking into account such warrant exercise, Eacom has 69,920,344 common shares issued and outstanding. The said 4,625,000 shares represent 6.61% of such outstanding shares. The Rainy Day Trust purchased such shares for investment purposes and may in the future increase or decrease its ownership of securities of Eacom from time to time, through the market or otherwise as circumstances or market conditions warrant.
The Rainy Day Trust owns or controls a total of 9,250,000 common shares of Eacom representing 13.23% of the issued and outstanding common shares of Eacom.
SOURCE CIDEL TRUST COMPANY AS TRUSTEE OF THE RAINY DAY TRUST
For further information: For further information: Cidel Trust Company, Lord Denning House, 509 20th Avenue SW, Calgary, Alberta, T2S 0E7, Canada, voice: (403) 697-6962, fax: (403) 410-9095