Impax Energy Services Income Trust

Impax Energy Services Income Trust

September 03, 2009 06:00 ET

Impax Energy Services Income Trust Announces Transition Plan to TSX Venture Exchange

CALGARY, ALBERTA--(Marketwire - Sept. 3, 2009) - Impax Energy Services Income Trust (TSX:MPX.UN) ("Impax" or the "Trust") today announced that the Toronto Stock Exchange ("Exchange"), pursuant to its review of the eligibility of the Trust's units for continued listing as previously disclosed on February 9, 2009, has advised that the Trust does not meet the eligibility for continued listing on the Exchange and its units will be delisted effective at the close of market on October 2, 2009.

The Trust has received conditional acceptance for listing on the TSX Venture Exchange and expects that all the conditions for listing will be satisfied prior to October 2, 2009 to ensure uninterrupted trading of the Trust's securities. The Trust will inform its security holders once all such conditions have been satisfied as well as information on the date of commencement of trading on the TSX Venture Exchange.

Impax Energy Services Income Trust is an open-ended trust, providing oilfield services in western Canada. The Trust indirectly owns an approximate 72% interest in Impax Energy Services Master Limited Partnership, which indirectly acquired and now operates through its subsidiaries the businesses of McClelland Oilfield Rentals Limited Partnership, EGOC Enviro Group Limited Partnership, Denray Rathole Drilling Limited Partnership and Dwayne Hommy Trucking Limited Partnership. These businesses provide services in the areas of oilfield rental, specialized equipment rental, access mat rental, waste management services, rat hole drilling and specialty fluid hauling.

This news release may contain forward-looking statements relating to expected future events and financial and operating results of the Trust that involve known and unknown risks and uncertainties. Although the Trust has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking information, actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed in the Trust's March 30, 2009 Annual Information Form filed with the Canadian securities regulatory authorities. Due to the potential impact of these factors, the Trust disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Contact Information

  • Impax Energy Services Income Trust
    William McClelland
    President and Chief Executive Officer
    (780) 539-3656
    Impax Energy Services Income Trust
    Raymond P. Cej
    (403) 233-8110