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CERF to Acquire Oilfield Rental Company
CERF Inc. has signed a nonbinding letter of intent to acquire a private oilfield equipment rental company located in Alberta, Canada. The current management team of the oilfield rental company is expected to manage and grow the new business unit. The closing of the transaction is subject to the parties entering into a definitive share-purchase agreement, and usual closing conditions.
“We are excited to have a successful oilfield rental company join the CERF group of companies,” said Wayne Wadley, president of CERF Inc. “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, based in Edmonton, Alberta, Canada, is a Canadian public corporation, s engaged in the sale, rental and service of construction and industrial euqipment as well as waste management and environmental services firms. CERF trades on the TSX Venture Exchange under the symbol CFL and currently has more than 9.6 million common shares issued and outstanding.
Article Date: 2012-08-26
Source: CERF Inc.
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