Mr. Artie T. Kos

May 26, 2016 11:19 ET

Artie T. Kos Acquires Additional Securities of CERF Incorporated

DRAYTON VALLEY, ALBERTA--(Marketwired - May 26, 2016) - Mr. Artie T. Kos announces that, on May 6, 2016, Mr. Kos acquired beneficial ownership of and exercises control over 1,463,318 common shares ("Common Shares") of CERF Incorporated ("CERF"). The Common Shares were issued pursuant to the acquisition (the "Acquisition") of all of the business and assets of Summit Star Energy Services Inc. by Zedcor Energy Services Corp., a wholly-owned subsidiary of CERF in consideration for 1,713,318 Common Shares.

Immediately prior to the Acquisition, Mr. Kos beneficially owned and exercised control over an aggregate of 7,595,825 Common Shares, representing approximately 19.2% of the issued and outstanding Common Shares.

As a result of the Acquisition, Mr. Kos beneficially owns and exercises control over an aggregate of 9,059,143 Common Shares, representing approximately 21.99% of the issued and outstanding Common Shares.

Pursuant to the terms of the acquisition agreement in respect of the Acquisition, the aggregate purchase price was $750,000, which was paid through the issuance of 1,713,318 Common Shares based on the volume weighted average price of the Common Shares over the 30 trading days up to and including May 5, 2016.

In connection with the Acquisition, Mr. Alex Johnstone was appointed as Vice President, Business Development of CERF. Mr. Kos, a director of CERF, was also appointed as Chairman of the Board and Chief Executive Officer of CERF following his resignation as Executive Chairman of CERF. Mr. Kos' interest in CERF is for investment purposes only. The acquisition was not for the purpose of exercising control or direction over CERF. Mr. Kos may, from time to time dispose of, or acquire, additional securities of CERF.

Contact Information

  • For further information or to obtain a copy of the early
    report filed in connection with this matter, please contact:
    Mr. Artie T. Kos
    Drayton Valley, Alberta
    780-542-4662