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Prima Columbia Hardwood acquires REM Forest Products

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REM Forest Products Inc.

On September 21, 2010, Prima Colombia Hardwood Inc. (formerly Flagship Industries Inc.) completed its acquisition of all of the issued and outstanding shares of REM Forest Products Inc. Trading in its common shares recommenced under its new name "Prima Colombia Hardwood Inc." on the TSX Venture Exchange on September 23, 2010. The acquisition was effected by way of a share purchase agreement among Prima Colombia, REM Forest and the shareholders of REM Forest pursuant to which the holders of all of the issued and outstanding shares of REM Forest received common shares in Prima Colombia and REM Forest became a wholly-owned subsidiary of Prima Colombia. REM Forest was advised in this transaction by Fasken Martineau with a team that included Gary Ott, Charlotte Bell, Grant Foster and Caroline Clapham.


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