EarthFirst Canada Inc. ("EarthFirst") (TSX: EF, EF.WT) is pleased to announce that its Annual Management Discussion and Analysis, Annual Financial Statements, and Annual Information Form have been posted to EarthFirst Canada’s website at www.earthfirstcanada.com and on Sedar at www.sedar.com.

On August 31, 2007 shareholder of EarthFirst approved a restructuring which (i) simplified the capital structure of the Corporation, (ii) internalized the management of the joint venture by acquiring all of the issued and outstanding shares of certain affiliates of Creststreet Capital Corporation (“Creststreet”), CS Capital, Creststreet Windpower LP and Creststreet Windpower II LP (“Creststreet Entities”) and EarthFirst Energy (“EFE”) in exchange for Convertible Preferred Shares, (iii) secured certain executives and management, administrative and other services necessary to proceed with the construction, development and financing of the Dokie I Project and to carry out its other business activities, (iv) adopted a stock option plan for the Corporation concurrent with the IPO, and (v) terminated the Joint Venture Agreement and Shareholders Agreement, which previously regulated certain of the business and affairs of the Corporation and certain of its shareholders.

In the fourth quarter of 2007, EarthFirst completed its $140 million initial public offering (“IPO”) and entered into a turbine supply agreement with Vestas to power its 144 MW Dokie wind project in NE BC. Contemporaneously with the closing of the IPO, EarthFirst completed the shareholder approved restructuring, and the shareholder approved acquisitions of Windrise Power Inc., Benchlands Wind Power Corp., Grand Valley Wind Farms Inc., Bonavista Wind Power Inc. and Buffalo Atlee Wind Energy Inc.

Subsequent to year end the IPO underwriters exercised their Over-Allotment option resulting in gross proceeds of $4.0 million. EarthFirst received an underwriting commitment for a $212.00 million senior secured credit facility from WestLB. The proceeds from this credit facility will be used to partially fund the 144 MW Dokie I Project, which is entering its construction phase. EarthFirst also entered into a second turbine supply agreement with ENERCON GmbH to purchase 15 – 2.0 MW wind turbines to supply its Grand Valley Project in Ontario and acquired the 45MW Nuttby Mountain project in Nova Scotia.

EarthFirst which is considered to be in the development stage incurred a net loss for 2007 of $48.52 million compared to nil for the prior year period primarily due to the accounting treatment of the restructuring transactions and general and administrative costs related to being a public company.

For further information, please contact:

Grant Bunker
Director, Investor Relations
EarthFirst Canada Inc.
Tel: (416) 628-2164
Toll Free: 1 866-622-4715
E-mail: gbunker@earthfirstcanada.com

Derren Newell
VP, Finance and Chief Financial Officer
EarthFirst Canada Inc.
Tel: (403) 513-0766
Toll Free: 1 877-513-0777
E-Mail: dnewell@earthfirstcanada.com

Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation including the timing of the construction of the Dokie I project, anticipated completion of the financing of this project. 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 and not being able to complete the financing for Dokie I Project. In providing such forward-looking information we have made various assumptions regarding, among other things, turbine availability, timing of the receipt of permits, interest rates, foreign currency exchange, projected construction costs, timeframes and the costs of and availability of skilled labour.

The forward-looking information contained in this news release represents the expectations of EarthFirst as at April 2, 2008, 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.

File	Language	Size
EFC-PR10_2008-04-02 Reports Fourth Quarter and Annual 2007 Financial Results_final.pdf	en	117.77 KB