e-Quisitions Inc.
TSX VENTURE : EQU

e-Quisitions Inc.
Central Alberta Well Services Corp.

Central Alberta Well Services Corp.

August 04, 2005 13:43 ET

Central Alberta and e-Quisitions Mail Joint Circular for Special Meetings for Plan of Arrangement

CALGARY, ALBERTA--(CCNMatthews - Aug. 4, 2005) - Central Alberta Well Services Corp. ("Central Alberta") and e-Quisitions Inc. (TSX VENTURE:EQU) ("e-Quisitions") are pleased to announce that they have mailed the Joint Information Circular (the "Joint Circular") for e-Quisitions' Annual and Special Meeting and Central Alberta's Special Meeting to approve the Plan of Arrangement (the "Plan") for the companies. Both meetings will be held on August 30, 2005. The Joint Circular details the Plan with respect to the proposed business combination of e-Quisitions and Central Alberta. The Plan requires the approval of 66?% of votes cast by the e-Quisitions shareholders and 66?% of votes cast by the shareholders and debentureholders of Central Alberta. The transaction also requires the final approval of the Court of Queen's Bench of Alberta, the TSX Venture Exchange and regulatory authorities.

The Board of Directors of each of e-Quisitions and Central Alberta have unanimously approved the proposed transaction and recommended that securityholders vote in favour of the Plan. A Director and Officer of e-Quisitions has entered into a lock-up agreement with Central Alberta whereby he has agreed to vote his shares, representing approximately 62.64% of the outstanding e-Quisitions Shares, in favour of the Plan. e-Quisitions shareholders and Central Alberta shareholders and debentureholders of record on July 28, 2005 are entitled to vote at the meetings.

Central Alberta and e-Quisitions also confirm their intention to complete a financing (the "Offering") with Wolverton Securities Inc. (the "Agent) to raise up to $2 million. The Offering will be completed by the company ("Amalco") created through the amalgamation of Central Alberta and e-Quisitions upon completion of the Plan. Amalco anticipates it will issue up to 1,739,130 common shares at a price of $1.15 per share in the Offering which is anticipated to be marketed pursuant to a Short Form Offering Document. The closing of the Offering will be contingent upon the successful completion of the Plan and receipt of all regulatory approvals including the TSX Venture Exchange. The Agent will be paid a cash commission of 6% of the gross proceeds from the Offering and be reimbursed for certain expenses related to the Offering.

READER ADVISORY

This information release may contain certain forward-looking information. Actual future results may differ materially from those contemplated. The risks, uncertainties and other factors that could influence the actual results are described in documents filed with regulatory authorities.

18,000,000 Common Shares

The TSX Venture Exchange has not reviewed and 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
    or
    Central Alberta Well Services Corp.
    Darryl Wilson
    President
    (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