Sept 9 (Reuters) - Acadian Timber Corp ADN.TO :
* ACADIAN TIMBER CORP. ANNOUNCES INTERNALIZATION OF ASSET MANAGEMENT FUNCTION
* ACADIAN TIMBER CORP - ANNUAL PERFORMANCE FEE AND ANY OTHER FEES PAYABLE BY COMPANY TO BROOKFIELD LP WILL BE ELIMINATED EFFECTIVE IMMEDIATELY
* ACADIAN TIMBER - MARK BISHOP & MATTHEW GROSS HAVE EACH RESIGNED FROM POSITIONS AS CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER OF ACADIAN
* ACADIAN TIMBER CORP - AGGREGATE CONSIDERATION PAYABLE TO BROOKFIELD LP IN CONNECTION WITH INTERNALIZATION IS $18 MILLION, WHICH WILL BE SATISFIED IN CASH
* ACADIAN TIMBER CORP - ERIKA REILLY, FORMER CFO OF ACADIAN SECONDED AS INTERIM PRESIDENT AND CEO
* ACADIAN TIMBER - BRIAN BANFILL, ALSO A FORMER CFO OF ACADIAN, ASSUMED ROLE OF INTERIM CFO
* ACADIAN TIMBER CORP - INTERNALIZATION IS IMMEDIATELY ACCRETIVE TO CO'S FREE CASH FLOW PER COMMON SHARE BY APPROXIMATELY 5%