SOURCE: EnerCare Inc.

Enercare Inc.

May 10, 2016 07:41 ET

Enercare Receives Regulatory Clearances for Acquisition of Service Experts

Not for Distribution to U.S. News Services or Dissemination in the United States

TORONTO, ON--(Marketwired - May 10, 2016) -  Enercare Inc. ("Enercare") (TSX: ECI) and its wholly-owned subsidiary, Enercare Solutions Inc. ("Enercare Solutions" and with Enercare, the "Company"), one of Canada's largest home and commercial services and energy solutions companies, announced today that the Company has received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 from the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice and clearance, in the form of a "no-action letter", from the Competition Bureau under the Canadian Competition Act for its previously announced acquisition of SEHAC Holdings Corporation. The Company anticipates that the closing of the acquisition will occur on or about May 11, 2016.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). Statements other than statements of historical fact contained in this news release may be forward-looking statements, including, without limitation, management's expectations, intentions and beliefs concerning anticipated future events, results, circumstances, economic performance or expectations with respect to the Company, including the Company's business operations, business strategy and financial condition.

Although forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on such forward-looking statements and assumptions as management cannot provide assurance that actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are subject to a number of risks and uncertainties including those described in Enercare's management's discussion and analysis for the year ended December 31, 2015 and its current annual information form. These forward-looking statements are subject to change as a result of new information, future events or other circumstances in which case they will only be updated by the Company where required by law. These forward-looking statements speak as of the date of this news release.

About the Company

Enercare is headquartered in Toronto, Ontario and publicly traded on the Toronto Stock Exchange (TSX: ECI). As one of Canada's largest home and commercial services and energy solutions companies with approximately 1,000 employees, the Company provides water heaters, furnaces, air conditioners and other HVAC rental products, plumbing services, protection plans and related services to more than 1.2 million customers. Enercare is also the largest non-utility sub-meter provider, with electricity, water, thermal and gas metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada, and through its Triacta division, a premier designer and manufacturer of advanced sub-meters and sub-metering solutions.

For more information on Enercare visit enercare.ca. Additional information regarding Enercare and Enercare Solutions is available on SEDAR at www.sedar.com or through Enercare's investor relations website at www.enercareinc.com or www.enercare.ca.

Contact Information

  • For further information please contact:
    Investors and Analysts
    Evelyn Sutherland
    Chief Financial Officer
    1.416.649.1860
    esutherland@enercare.ca