Canadian Equipment Rental Fund Limited Partnership

April 29, 2011 17:25 ET

Canadian Equipment Rental Fund Limited Partnership Completes Purchase of Maplethorpe Contractors Ltd.

CALGARY, ALBERTA--(Marketwire - April 29, 2011) - CERF GP Corp., the general partner of Canadian Equipment Rental Fund Limited Partnership ("CERF LP" or the "Partnership") (TSX VENTURE:CFL.UN), is pleased to announce that it has completed the purchase of 100% of the issued and outstanding shares of Maplethorpe Contractors Ltd. ("MCL") a private integrated waste management company based in Wetaskiwin, Alberta. The purchase price for the acquisition was $5,700,000, before closing adjustments and was paid by the issuance of 890,000 limited partnership units ("Units") of CERF LP at a deemed price of $2.50 per Unit and the balance was paid by way of cash. Mr. David Maplethorpe, the former Chief Executive Officer of MCL, has been re-appointed as the Chief Executive Officer of MCL.

CERF LP is an Alberta limited partnership engaged in the rental, sale and services of industrial and construction equipment and in waste management services. CERF LP trades on the TSX Venture Exchange under the symbol "CFL.UN" and after the foregoing issuance of Units, has 9,530,906 Units issued and outstanding.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" under applicable securities laws. These forward-looking statements 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 contemplated in the agreement referred to above. 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

    CERF GP Corp., general partner of CERF LP
    Ken Stephens
    (403) 281-1042
    (403) 238-2720 (FAX)