CALGARY, ALBERTA--(Marketwired - Feb. 2, 2017) - ClearStream Energy Services Inc. (TSX:CSM) ("ClearStream" or the "Company") announced today that the Ontario Superior Court of Justice has issued its decision in the matter of Brompton Corp. v. Tuckamore Holdings LP with the Court granting Brompton Corp.'s motion for summary judgment against the Company's wholly-owned subsidiary, Tuckamore Holdings LP, and the Company. ClearStream intends to appeal the decision and to vigorously defend its right to indemnity from Brompton Corp. Additional detail on the Brompton Corp. claim can be found in the Company's Management's Discussion and Analysis ("MD&A") for the quarter ended September 30, 2016 and the Company's annual MD&A for the year ended December 31, 2015.
ClearStream Energy Services Inc. is a fully integrated provider of upstream, midstream and downstream production services to the energy industry in Western Canada. For more information about ClearStream, please visit www.clearstreamenergy.ca.
Certain information included in this news release may constitute forward-looking information within the meaning of securities laws. Forward-looking information in this news release includes ClearStream's intention to appeal the decision made by the Ontario Superior Court of Justice and vigorously defend its right to indemnity from Brompton Corp. Such forward-looking information reflects management's current beliefs and is based on information currently available to management of ClearStream.
Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking information including risks related to capital market conditions, economic conditions, dependence on key personnel, and regulatory change. These factors should not be considered exhaustive. Risks and uncertainties about ClearStream's business are more fully discussed in ClearStream's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com. In formulating forward-looking information herein, management has assumed that business and economic conditions affecting ClearStream will continue substantially in the ordinary course, including without limitation with respect to general levels of economic activity, regulations, taxes and interest rates.
Although the forward-looking information is based on what management of ClearStream consider to be reasonable assumptions based on information currently available to it, there can be no assurance that actual events or results will be consistent with this forward-looking information, and management's assumptions may prove to be incorrect.
This forward-looking information is made as of the date of this release, and ClearStream does not assume any obligation to update or revise it to reflect new events or circumstances except as required by law. Undue reliance should not be placed on forward-looking information. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.