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ENT Entrec Corporation

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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 Singer Specialized Group of Companies

09/04/2012 1:00pm

Marketwired Canada


Entrec Transportation Services Ltd. (TSX VENTURE:ENT) ("ENTREC") is pleased to
announce it has completed the acquisition of 100% of the issued and outstanding
shares of the Singer Specialized Group of Companies ("SINGER"). SINGER is based
in Calgary, Alberta and specializes in the transportation of over-sized
equipment within the oil and gas, petro-chemical, power generation and mining
industries. 


Operating out of a modern 21,000 square foot shop and office facility, SINGER
operates an extensive fleet of conventional heavy haul trailers, tractors, winch
tractors, prime movers, picker trucks, as well as 58 lines of hydraulic platform
trailers. ENTREC's existing Calgary location will be integrated into the SINGER
location. 


The aggregate purchase price paid on closing was $15.265 million less the value
of long-term debt and was paid through a combination of: (i) the issuance of
3,900,000 common shares of ENTREC issued at a deemed price of $1.35 per share;
and (ii) the remainder in cash. The final purchase price for SINGER remains
subject to certain adjustments related to SINGER's working capital balances as
at March 31, 2012 and normalized earnings before interest, taxes, depreciation
and amortization ("EBITDA") for the trailing 12 month period ended March 31,
2012. 


About ENTREC

ENTREC specializes in the transportation and rigging 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".


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