e-Quisitions Inc.
TSX VENTURE : EQU

e-Quisitions Inc.
Central Alberta Well Services Corp.

Central Alberta Well Services Corp.

August 31, 2005 16:43 ET

Central Alberta and e-Quisitions Announce Approval of Arrangement

CALGARY, ALBERTA--(CCNMatthews - Aug. 31, 2005) - Central Alberta Well Services Corp. ("Central Alberta") and e-Quisitions Inc. (TSX VENTURE:EQU) ("e-Quisitions") are pleased to announce that at special meetings of the securityholders of Central Alberta and e-Quisitions held on August 30, 2005, the e-Quisitions shareholders and the Central Alberta shareholders and debentureholders approved the previously announced arm's length reverse take-over transaction (the "Transaction") whereby Central Alberta and e-Quisitions will amalgamate by way of plan of arrangement to form a new public company to be called Central Alberta Well Services Corp. ("Amalco"). The Transaction also received final approval of the Court of Queen's Bench of Alberta today. Final approval from the TSX Venture Exchange approval is expected by mid-September, 2005.

In connection with the Transaction, the common shares of e-Quisitions were consolidated into post-consolidated shares on a 1 for 20 basis (the "Common Shares") and the following directors and officers of Amalco were appointed:

Darryl Wilson, President, Chief Executive Officer and Director

Jim Stout, Chief Financial Officer

Ross O. Drysdale, Corporate Secretary

Jeff Thomson, Director

Rance Fisher, Director

Louis W. MacEachern, Director

Rob Anderson, Director

Amalco is also proceeding with a short-form offering of up to $2,000,000 led by Wolverton Securities Inc. for up to 1,739,130 common shares of Amalco at a price of $1.15 per share. It is anticipated that the financing will be completed on or about September 9, 2005, subject to final regulatory and TSX Venture Exchange approval.

Central Alberta is based in Red Deer, Alberta and provides well servicing services to oil and natural gas exploration and development companies. It currently operates in the exploration and production areas of the Western Canadian oil and gas sedimentary basin.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • e-Quisitions Inc.
    Tim Sebastian
    Director
    (780) 420-4707
    Email: tjsebastian@bryanco.com
    or
    e-Quisitions Inc.
    2600 Manulife Place, 10180 - 101st Street
    Edmonton, Alberta
    (780) 420-4707
    or
    Central Alberta Well Services Corp.
    Darryl Wilson
    President and Chief Executive Officer
    (403) 341-3933 or Toll Free: 1-877-341-3933
    Email: darrylwilson@cenalta.ca
    or
    Central Alberta Well Services Corp.
    7883 Gaetz Avenue
    Red Deer, Alberta
    (403) 341-3933 or Toll Free: 1-877-341-3933