CERF Incorporated Announces Proposed AcquisitionCanada Newswire
TSX Venture Symbol: CFL
CALGARY, Aug. 22, 2012 /CNW/ - CERF Incorporated ("CERF Inc.") is pleased to announce that it has signed a non-binding letter of intent to acquire a private oilfield equipment rental company located in Alberta (the "Oilfield Rental Company"). The existing management team of the Oilfield Rental Company is expected to manage and grow CERF's new business unit. The closing of the transaction is subject to the parties entering into a definitive share purchase agreement and to usual closing conditions including TSX Venture Exchange and other regulatory approvals.
Wayne Wadley, President of CERF Inc. comments "We are excited to have a successful oilfield rental company join the CERF group of companies. We look forward to being able to participate more directly in the oil industry and to have our wholly owned subsidiary, 4-Way Equipment Rentals Corp. working closely with the Oilfield Rental Company in supplying some similar rental equipment and services to a whole new oilfield customer base."
CERF Inc. is a Canadian public corporation engaged in the rental, sale and service of industrial and construction equipment and waste management and environmental services. CERF Inc. trades on the TSX Venture Exchange under the symbol "CFL" and currently has 9,643,367 common shares issued and outstanding.
Advisory Regarding Forward-Looking Statements
The information with respect to CERF contained herein, contains forward-looking statements, including statements concerning the anticipated entering into of a definitive agreement in respect of the subject acquisition, the anticipated closing thereof and the expected employment of certain individuals. These forward-looking statements are based on assumptions, including the anticipated satisfaction of closing conditions, including the receipt of regulatory approvals and are subject to numerous risks and uncertainties, certain of which are beyond CERF's control, including the impact of general economic conditions, industry conditions, stock market volatility and ability to access sufficient capital. As a result, CERF's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur. In addition, the reader is cautioned that historical results are not necessarily indicative of future performance. CERF does not intend, and does not assume any obligation, to update or revise these forward-looking statements except as required pursuant to applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.