Brookfield Capital Partners Ltd.

Brookfield Capital Partners Ltd.

December 11, 2015 19:50 ET

Brookfield Capital Partners Ltd. Acquires 8.1 Million Common Shares of CWC Energy Services Corp.

CALGARY, ALBERTA--(Marketwired - Dec. 11, 2015) - Brookfield Capital Partners Ltd. ("Brookfield Capital"), announced today that it has acquired 8.1 million common shares of CWC Energy Services Corp. (TSXV, Symbol "CWC") ("CWC" or the "Corporation") under a Private Agreement Exemption. Under the agreement, Brookfield Capital paid cash consideration of $0.12 per common share of the Corporation. CWC is a contract drilling and well servicing company operating in the Western Canadian Sedimentary Basin with a complementary suite of oilfield services including drilling rigs, service rigs, and coil tubing.

As a result of this transaction, Brookfield Capital now holds 204,606,962 Common Shares of the Corporation, representing approximately 70% of the currently issued and outstanding Common Shares.

Brookfield Capital acquired the common shares of CWC for investment purposes only. Brookfield Capital intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Corporation, subsequent developments affecting the Corporation or its business, and general market and economic conditions. Based upon these and other factors, Brookfield Capital may decide to purchase additional securities of the Corporation or may decide in the future to sell all or part of its investment.

For additional information the filing can be found on SEDAR, or for a copy of the early warning report filed in respect of the above transaction, please contact Jim Reid.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Brookfield Capital Partners Ltd.

Brookfield Capital Partners Ltd. was established by Brookfield Asset Management Inc. to provide long-term capital and strategic assistance to mid-market companies based in North America. Brookfield Capital seeks investment opportunities in industries in which Brookfield Capital has significant operating expertise or a competitive advantage, including in the industrial products, building materials, metals and mining, homebuilding, forest products, oil and gas and manufacturing sectors. The Brookfield Capital team operates out of offices in Toronto, New York, Calgary, Vancouver and Montreal.

Brookfield Capital is a private equity affiliate of Brookfield Asset Management, a leading global alternative asset manager with approximately $225 billion of assets under management.

NOTE: The statements in this press release concerning Brookfield Capital's future intentions regarding Brookfield Capital's investment in CWC Energy Services Corp.'s Common Shares may contain forward-looking information and other "forward looking statements", within the meaning of certain securities laws, including Section 27A of the Securities Act of 1933, as amended, Section 21 E of the Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward looking statements are identified by words such as, but not limited to, "could", "may", and "will". Readers are cautioned that actual results may vary from the forward-looking information contained herein. We may make such statements in this release, in other filings with Canadian regulators or the SEC or in other communications. The reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors.

Contact Information

  • Jim Reid
    Brookfield Capital Partners Ltd.
    c/o Suite 1700, 335-8th Avenue SW
    Calgary Alberta T2P 1C9
    Tel: (403) 770-7215