ATK Oilfield Transportation Inc.

ATK Oilfield Transportation Inc.

September 15, 2014 09:00 ET

ATK Oilfield Transportation Announces Acquisition and Proposed Private Placement

CALGARY, ALBERTA--(Marketwired - Sept. 15, 2014) - ATK Oilfield Transportation Inc. ("ATK" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent to purchase all the issued and outstanding shares of Streeper and Sons Trucking Ltd. ("Streeper"), a private company based in Fort Nelson, British Columbia. Streeper has been actively involved in the oilfield transportation industry since its incorporation in 2003.

The Streeper acquisition will be funded by cash and the issuance of ATK common shares. The acquisition is expected to close on or about October 1, 2014, subject to customary closing conditions, including financing.

ATK is also pleased to announce its intention to raise up to $4.5 million in a private placement. The net proceeds of the private placement will be used to fund the cash portion the Streeper purchase price, to purchase additional new equipment to further expand ATK's fleet and for general working capital purposes.

"The Streeper name is synonymous with the Northwest Canadian oilfield transportation industry. The Streeper family roots in Fort Nelson, British Columbia are in their third generation," said Artie Kos, Chairman and CEO of ATK. "The support system available to our Northern B.C., Wonowon and Fort Nelson operations are greatly enhanced with the addition of John Streeper and his operations."

About ATK Oilfield Transportation Inc.

ATK provides rig moving and other specialized transportation services to exploration, development and production companies operating in the Western Canadian Sedimentary Basin and in Texas. The Company was incorporated in 2010 to better serve the oil and gas industry's rig moving needs. ATK has 3 operating locations in Alberta, 2 in British Columbia and 1 in Midland, Texas.

For more information on ATK please see the Company's website at:

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