Werklund Capital Corporation

January 07, 2014 18:40 ET

Early Warning Press Release of Werklund Capital Corporation

CALGARY, ALBERTA--(Marketwired - Jan. 7, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Werklund Capital Corporation ("Werklund") issues this press release pursuant to Part 3 - Early Warning Requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to Aveda Transporation and Energy Services Inc. ("Aveda"). Aveda trades on the TSX Venture Exchange under the symbol "AVE".

On December 31, 2013, Werklund acquired 1,850,980 common shares (the "Common Shares") in the capital of Aveda at a deemed price of $2.55 per Common Share through the conversion of $4.72 million principal amount of convertible debenture (the "Convertible Debenture") into Common Shares.

The Common Shares acquired by Werklund represent approximately 15.49% of the current issued and outstanding Common Shares of Aveda.

Immediately following this acquisition, Werklund holds an aggregate of 6,567,335 Common Shares (approximately 54.95% of the outstanding Common Shares).

The Common Shares were acquired under the accredited investor exemption under National Instrument 45-106 - Prospectus and Registration Exemptions. Depending on economic or market conditions or matters relating to Aveda, Werklund may choose to either acquire additional securities or dispose of currently held securities of Aveda.

A copy of Werklund's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Stefan Erasmus via telephone at (403) 231-2086 and facsimilie at (403) 231-6549. Werklund's head office is located at 4500 Devon Tower, 400, 3rd Avenue S.W., Calgary, Alberta T2P 4H2.

Neither the 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 of accuracy of this news release.

Contact Information

  • Werklund Capital Corporation
    Stefan Erasmus
    (403) 231-2086
    (403) 231-6549 (FAX)