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Message: EarthFirst Enters Into Agreement to Sell All The Shares of EarthFirst Nuttby Inc

EarthFirst Enters Into Agreement to Sell All The Shares of EarthFirst Nuttby Inc

posted on Apr 21, 2009 11:25AM

Attention Business Editors

EarthFirst Enters Into Agreement to Sell All The Shares of EarthFirst Nuttby Inc.

<<

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

SERVICES/

>>

CALGARY, April 21 /CNW/ - EarthFirst Canada Inc. (EarthFirst) (TSX:EF,

EF.WT) announced today that it has entered into a binding agreement with Nova

Scotia Power Incorporated to sell all of the shares (the "Sale") of its wholly

owned-subsidiary, EarthFirst Nuttby Inc. ("Nuttby"). As a result of this

transaction, EarthFirst will receive funds of $800,000, less working capital

and other adjustments.

The completion of the Sale is subject to, among other customary closing

conditions, 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 April

24, 2009, and, assuming court approval is obtained, the completion of the Sale

is expected to occur on or about April 27, 2009.

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 Sale. 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 April 21, 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.

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/For further information: Brian Trypka, Chief Restructuring Officer,

EarthFirst Canada Inc., Tel: (403) 513-0780, Toll Free: 1 (877) 513-0777,

E-mail: [email protected]; Derren Newell, VP, Finance and Chief

Financial Officer, EarthFirst Canada Inc., Tel: (403) 513-0766, Toll Free: 1

(877) 513-0777, E-mail: [email protected]/

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