Cordy Oilfield Services Inc.
TSX VENTURE : CKK

Cordy Oilfield Services Inc.

February 06, 2015 18:23 ET

Cordy Oilfield Services Inc.: Corporate Update

CALGARY, ALBERTA--(Marketwired - Feb. 6, 2015) - Cordy Oilfield Services Inc. ("Cordy") (TSX VENTURE:CKK) announces that in response to the significant decrease in oilfield and construction activity Cordy is in the process of substantially downsizing its construction division by selling equipment and closing branches. Cordy will also reduce its environmental division equipment fleet to better match demand expected over the foreseeable future. The proceeds from the equipment sales will be used to significantly reduce debt owing to Nations Equipment Finance.

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

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. All statements included herein, other than statements of historical fact, constitute forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of certain assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with 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

  • For general or investor relations information,
    please contact:
    David Mullen, Chairman and CEO
    (403) 266-2067
    (403) 266-2087 (FAX)
    dmullen@cordy.ca