Followers | 240 |
Posts | 12051 |
Boards Moderated | 0 |
Alias Born | 04/05/2009 |
Friday, August 20, 2021 10:55:16 AM
VANCOUVER, BC, Oct. 6, 2020 /CNW/ - Itasca Capital Ltd. (TSXV: ICL) ("Itasca" or "Company") is pleased to announce that, further to its press release of September 17, 2020, one of its investee companies, 1347 Investors LLC ("1347 LLC"), today completed its investment in a sawmill and related assets located in Kenora, Ontario
The purchased assets are comprised of a sawmill and related equipment and lands of approximately 114 acres. The sawmill, sitting on a 42 acre site, is expected to consume up to 650,000 cubic meters of annual allowable harvest from Ontario forests and is equipped to produce up to 150 million board feet (MMBF) per year on 2 shifts of quality SPF (Premium, #1&2, stud grade and MSR grades focused on PET 8-9' lumber products). The sawmill is located near major transportation routes, including the Trans-Canada Highway and the main Canadian Pacific rail line, providing easy access to the nearby Canadian-United States border and several key mid-west U.S. markets, including Minneapolis, Chicago, St. Louis and Dallas. It is expected that the Kenora sawmill can be optimized to achieve production capacity of 200 million board feet annually.
Larry Swets, Director and Chief Executive Officer of Itasca stated, "Our enthusiasm could not be higher about the advancement made by our principal investment at 1347 LLC. Not only do we believe that 1347 LLC acquired the sawmill at a very attractive price, we are excited to see this asset grow as it is brought online."
Kyle Cerminara, Chairman of the Board of Directors of Itasca added, "We are pleased to have 1347 LLC close its investment in the Kenora Sawmill and look forward to executing on Itasca's recently announced developments, including the addition of Paul Rivett and Rick Doman to the Board of Itasca."
https://www.newswire.ca/news-releases/itasca-announces-closing-of-investment-in-kenora-sawmill-by-1347-investors-llc-858669588.html
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM