Cordy Oilfield Services Inc.
TSX VENTURE : CKK

Cordy Oilfield Services Inc.

September 27, 2013 15:25 ET

Cordy Announces Asset Sale

CALGARY, ALBERTA--(Marketwired - Sept. 27, 2013) - Cordy Oilfield Services Inc. ("Cordy") (TSX VENTURE:CKK) is pleased to announce that it entered into an Asset Purchase Agreement with Lyncorp International Ltd. ("Lyncorp") (the "Transaction") pursuant to which Cordy sold two CAT D11Ts (the "Assets") to Lyncorp for a sales price of $2,776,250.

Lyncorp is wholly-owned and controlled by David Mullen, the Chief Executive Officer, Chairman and a director of Cordy. Together, David Mullen and Lyncorp hold approximately 19.52% of Cordy's outstanding common shares.

Cordy has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the sale of the Assets to Lyncorp (Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).

Additional information on Cordy is available on our website www.cordy.ca or on SEDAR at www.sedar.com.

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

  • For general or investor relations information:
    Cordy Oilfield Services Inc.
    David Mullen, Chairman and CEO
    (403) 266-2067
    (403) 266-2087 (FAX)
    dmullen@cordy.ca
    www.cordy.ca

    For investor relations information:
    Cordy Oilfield Services Inc.
    www.cordy.ca