Sep 27, 2007. /Lesprom Network/. Fraser Papers Inc. announced on September 26, 2007 that it has sold its entire holdings of 3,613,780 units of Acadian Timber Income Fund. 1,013,780 units were sold to two investment dealers and 2,600,000 units were sold to Brookfield Asset Management Inc. The units, which represent a 22% interest in Acadian (on a fully-diluted basis), were sold through the facilities of the Toronto Stock Exchange pursuant to a control block distribution under National Instrument 45-102 Resale of Securities. Net proceeds from the sale are approximately CAD 38.3 million and will be used to pay down drawings under the company's working capital facility. Fraser Papers is an integrated specialty paper company which produces a broad range of specialty packaging and printing papers. The company has operations in New Brunswick, Maine, New Hampshire and Quebec. Fraser Papers is listed on the Toronto Stock Exchange.