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ENT Entrec Corporation

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Delayed by 15 minutes
Share Name Share Symbol Market Type
Entrec Corporation TSXV:ENT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

ENTREC Completes Acquisition of Tiggo Transport Ltd.

02/11/2012 12:00pm

Marketwired Canada


ENTREC Corporation (TSX VENTURE:ENT) ("ENTREC") is pleased to announce it has
completed its previously announced acquisition of Tiggo Transport Ltd.
("TIGGO"), a heavy haul transportation and lifting services company based in
Grande Prairie, Alberta and Dawson Creek, British Columbia. TIGGO operates a
modern equipment fleet valued at approximately $10 million, including 6 crane
mounted picker trucks, 25 tractor units, 25 support vehicles, and over 60
trailers.


The aggregate consideration paid on closing for 100% of the issued and
outstanding shares of TIGGO consisted of (i) the issuance of 3,100,000 common
shares of ENTREC; (ii) $12.0 million in cash; and (iii) 1,700,000 share purchase
warrants, each warrant entitling the holder thereof the right to acquire one
common share at an exercise price of $2.00 per share. The share purchase
warrants expire on October 31, 2015. The final purchase price for TIGGO remains
subject to certain adjustments related to TIGGO's working capital balances as at
October 31, 2012.


During the twelve months ended September 30, 2012, TIGGO generated earnings
before interest, taxes, depreciation and amortization ("EBITDA") of
approximately $5 million. 


About ENTREC

ENTREC specializes in the lifting, transportation (over the road and on-site),
loading, off-loading and setting of overweight and oversized cargo for the oil
and gas, construction, petrochemical, mining and power generation industries.
The common shares of ENTREC trade on the TSX Venture Exchange under the trading
symbol "ENT". 


FOR FURTHER INFORMATION PLEASE CONTACT: 
ENTREC Corporation
Rod Marlin
Chairman & CEO
(780) 960-5647


ENTREC Corporation
John M. Stevens
President & COO
(780) 960-5625


ENTREC Corporation
Jason Vandenberg
CFO
(780) 960-5630

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