Entrec Transportation Services Ltd.
TSX VENTURE : ENT

Entrec Transportation Services Ltd.

February 21, 2012 08:55 ET

Entrec Closes $25 Million Bought Deal Financing

SPRUCE GROVE, ALBERTA--(Marketwire - Feb. 21, 2012) - Entrec Transportation Services Ltd. (TSX VENTURE:ENT) ("ENTREC") is pleased to announce that it has closed its 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. (collectively, the "Underwriters"). Under the offering, the Underwriters purchased, on a bought deal basis 21,739,131 common shares (the "Common Shares") of the Company at a price of $1.15 per Common Share, for gross proceeds of $25,000,000.65.

The Company plans to use the net proceeds from the offering to fund potential future acquisitions and for 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".

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