Entrec Transportation Services Ltd.
TSX VENTURE : ENT

Entrec Transportation Services Ltd.

March 05, 2012 08:43 ET

Entrec Announces Exercise of Over-Allotment Option

SPRUCE GROVE, ALBERTA--(Marketwire - March 5, 2012) - Entrec Transportation Services Ltd. (TSX VENTURE:ENT) (the "Company" or "Entrec") is pleased to announce that it has completed the issuance of an additional 1,511,308 common shares (the "Common Shares") of the Company, for additional gross proceeds of $1,738,004.20, to the underwriters in connection with the exercise of the over-allotment option granted to the underwriters in connection with the Company's previously announced bought deal financing with GMP Securities L.P. and a syndicate of underwriters including Stifel Nicolaus Canada Inc., AltaCorp Capital Inc., Canaccord Genuity Corp. and Raymond James Ltd.

The Company plans to use the net proceeds from the financing to fund potential future acquisitions and working capital purposes.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About Entrec

Entrec specializes in the transportation and rigging of overweight and oversized cargo for the oil and gas, construction, petrochemical, mining and power generation industries. The common shares of Entrec trade on the TSX Venture Exchange under the trading symbol "ENT".

Forward-looking Statements

The information contained in this press release includes certain forward-looking statements within the meaning of Canadian securities laws. Specifically, this press release contains statements regarding the use of the net proceeds of the financing. Although Entrec believes the statements in this press release regarding the use of the net proceeds are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. While the Company intends to use the net proceeds as stated above, there may be circumstances that are not known at this time where a reallocation of the net proceeds may be advisable for business reasons that management believes are in the Company's best interests, subject to contractual obligations. The forward-looking statements are made as of the date hereof and, unless required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements are expressly qualified by these cautionary statements.

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 or accuracy of this release.

Contact Information

  • Entrec Transportation Services Ltd.
    Rod Marlin
    Chairman & CEO
    (780) 960-5647

    Entrec Transportation Services Ltd.
    John M. Stevens
    President & COO
    (780) 960-5625

    Entrec Transportation Services Ltd.
    Jason Vandenberg
    CFO
    (780) 960-5630