Mr. Dean Swanberg

May 01, 2017 08:00 ET

Acquisition of Canadian Equipment Rentals Corp. Common Shares by Dean Swanberg Through D.S.S. Holdings Inc.

CALGARY, ALBERTA--(Marketwired - May 1, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Pursuant to the early warning requirements of applicable Canadian securities laws, Mr. Dean Swanberg reports that, on April 28, 2017, he acquired, through a wholly owned corporation D.S.S. Holdings Inc. ("D.S.S."), indirect ownership and control over 10,000,000 common shares ("Common Shares") of Canadian Equipment Rentals Corp. (the "Issuer"). The arm's length transaction (the "Transaction") was carried out under an agreement between the Issuer and D.S.S. dated April 27, 2017, whereby D.S.S. agreed to subscribe for 10,000,000 Common Shares for an aggregate subscription price of $2,500,000 payable through the set off and exchange of $2,500,000 principal amount of debt owing by the Issuer to D.S.S.

Prior to the Transaction, Mr. Swanberg owned or controlled, directly or indirectly, 1,287,197 Common Shares, representing approximately 3.12% of the then issued and outstanding Common Shares.

Immediately after the completion of the Transaction, Mr. Swanberg, beneficially owned or controlled, directly or indirectly, 11,287,197 Common Shares, representing approximately 22.05% of the issued and outstanding Common Shares.

Mr. Swanberg acquired the Common Shares for investment purposes and may, in the future, increase or decrease their ownership of securities of the Issuer, directly or indirectly, from time to time depending upon, among other things, the business and prospects of the Issuer and future market conditions.

For further details regarding the acquisition of the Common Shares described above, see the Early Warning Report dated May 1, 2017 available on the Issuer's SEDAR profile.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS NEWS RELEASE, PLEASE CONTACT:

Dean Swanberg
720058 Range Road 51
County of Grande Prairie No. 1, Alberta T8X 4G1
Telephone: (780) 962-5512

The Issuer's head office is located at:

Canadian Equipment Rentals Corp.
330 - 5th Avenue SW, Suite 2440
Edmonton, Alberta T2P 0L4

Contact Information

  • Dean Swanberg
    720058 Range Road 51
    County of Grande Prairie No. 1, Alberta T8X 4G1
    (780) 962-5512