Edelman Financial Group Inc EF

RE: RE: RE: here we go

[TEC159]

EarthFirst Canada Inc. - Ninth Default Status Report and Update

Mon Mar 16, 1:52 PM

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CALGARY, March 16 /CNW/ - EarthFirst Canada Inc. ("EarthFirst" or the "Company") (TSX: EF, EF.WT) provides its ninth bi-weekly Default Status Report under National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults, pursuant to which EarthFirst announced that its financial statements for the third quarter ended September 30, 2008 would not be filed by November 14, 2008. EarthFirst reports that since announcing the original Notice of Default on November 10, 2008 there have not been any material changes to the information contained therein; nor any failure by EarthFirst to fulfill its intentions as stated therein, and there are no additional defaults or anticipated defaults subsequent to such announcement. Further, there have been no additional material changes respecting EarthFirst and its affairs which have not been previously disclosed or are not disclosed below. EarthFirst intends to file its next Default Status Report on Monday, March 30, 2009.

EarthFirst continues to work with certain bidders who have made offers to purchase some or all of the Company and/or EarthFirst's Dokie I project and/or certain of the wind turbines associated with the Dokie I project. EarthFirst will continue to work with these bidders and other interested parties in an effort to consummate a transaction with one of them prior to the end of March. If one of these transactions does not close, or if EarthFirst cannot obtain some other funding prior to the end of March, 2009, EarthFirst may not have sufficient funds to continue to operate.

Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation including the timing and continuance of CCAA protection and the timing of filing of EarthFirst's interim financial statements, management's discussion and analysis and related CEO and CFO certifications for the third quarter ended September 30, 2008. 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 acquire required permits, delays in construction timing or turbine delivery, not being able to complete a purchase and sale transaction or obtain financing and the uncertainty involved in the Court proceedings and the implementation of a Plan under the CCAA.

The forward-looking information contained in this news release represents the expectations of EarthFirst as at March 16, 2009, and, accordingly, is subject to change after such date. However, EarthFirst expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Contacts

Brian Trypka
Chief Restructuring Officer
EarthFirst Canada Inc.
Tel: [phone]
Toll Free: 1-877-513-0777
E-mail: [e-mail]

Derren Newell
VP
Finance and Chief Financial Officer
EarthFirst Canada Inc.
Tel: [phone]
Toll Free: 1-877-513-0777
E-mail: [e-mail]