Canadian Equipment Rental Fund Limited Partnership
TSX VENTURE : CFL.UN

October 15, 2010 11:23 ET

Canadian Equipment Rental Fund Limited Partnership Announces Agreement to Acquire Waste Disposal Assets in the Calgary Area

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2010) - CERF GP Corp. (TSX VENTURE:CFL.UN), the general partner of Canadian Equipment Rental Fund Limited Partnership ("CERF LP"), is pleased to announce that CERF LP, together with its wholly-owned subsidiary The Smart-Way Disposal & Recycling Company Ltd. ("Smart-Way"), has entered into an agreement to purchase certain waste disposal assets from Mr. Jerry Gautreau of Calgary Alberta. In connection therewith CERF LP has agreed to issue 20,000 limited partnership units ("Units") of CERF LP at a deemed price of $2.50 per Unit and to pay an additional cash consideration. Completion of the transaction is subject to certain conditions, including approval by the TSX Venture Exchange.

Mr. Gautreau will be joining the Smart-Way team to continue to manage the acquired assets as well as promote Smart-Way's products and services into the Calgary area market. Mr. Gautreau has eight years of experience in the waste disposal business in Calgary and has grown several of his own successful businesses. More information on Smart-Way can be found at: www.smart-waydisposal.com

CERF LP is an Alberta limited partnership engaged in the rental, sale and service of industrial and construction equipment. CERF LP trades on the TSX Venture Exchange under the symbol "CFL.UN" and prior to the issuance of the forgoing Units, has 6,096,450 Units issued and outstanding.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" under applicable securities laws. These statements relate to future events or future performance and are based on the Partnership's current expectations, estimates, projections, assumptions and beliefs. Although the Partnership believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, undue reliance should not be placed on these forward-looking statements. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking information pertaining to the anticipated completion of the acquisition. All such forward-looking statements involve known and unknown risks and uncertainties, certain of which are beyond the control of the Partnership. The forward-looking statements contained in this press release are made as of the date hereof and the Partnership does not intend, and does not assume any obligation, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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.

Contact Information

  • CERF GP Corp., general partner of CERF LP
    Wayne Wadley
    President and CEO
    (403) 850-4095
    wwadley@cerflp.com
    or
    CERF GP Corp., general partner of CERF LP
    Ken Stephens
    CFO
    (403) 298-8695
    (403) 269-3540 (FAX)
    kstephens@cerflp.com