Gemini Corporation
TSX VENTURE : GKX

Gemini Corporation

March 07, 2014 18:16 ET

Gemini Corporation Enters Into Purchase Agreement with ONYX Drafting Services LLC

CALGARY, ALBERTA--(Marketwired - March 7, 2014) -

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Gemini Corporation (TSX VENTURE:GKX) ("Gemini") has entered into a purchase agreement with ONYX Drafting Services LLC ("ONYX"), a limited liability company located in Chandler, Arizona. Gemini is acquiring 50% of the outstanding securities of ONYX and will retain an exclusive option to acquire the remaining 50% of the securities from ONYX three years from the closing date of the agreement (the "Transaction"). The purchase price will be settled through a combination of cash and Gemini shares issued from treasury.

ONYX provides drafting services through its base of operations in Arizona to a select number of clients operating in the oil and gas industry. This agreement fits squarely into Gemini's strategy of establishing out-of-market resources to augment its existing team of professionals situated in western Canada. The additional drafting capacity will be used to manage increasing client project needs in Canada and provides a window into the growing market in the United States.

"We intend to work closely with the ONYX team to grow this new business as a solid contributor to Gemini's diversified service offering. Establishing a presence in the United States is also an important developmental step for our organization in response to the increasing cross-border requirements of our alliance clients", stated Doug Lautermilch, Gemini's President and CEO.

The closing of the Transaction is subject to regulatory approval, including the approval of the TSX Venture Exchange.

About Gemini Corporation

Gemini Corporation is a professional services firm that provides engineering, regulatory, fabrication, installation and maintenance solutions for clients through stand-alone or integrated service delivery models. For more than 30 years, Gemini has been harnessing the energy of its staff and clients to power innovation in conventional and unconventional oil and gas, in-situ heavy oil and industrial facilities across western Canada. Our integrated design-build project delivery model differentiates Gemini and provides tremendous value-added benefits for clients, such as constructability advice at the design phase, schedule compression and one point of accountability.

Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For more information about the Corporation and its services, go to www.geminicorp.ca.

Disclaimer

This news release may contain forward looking information that represents Gemini's internal projections, expectations, estimates or beliefs concerning, among other things, future operating results and various components thereof or Gemini's future economic performance. All statements other than the statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", and similar expressions. The projections, estimates and beliefs contained in such forward-looking statements are based on management's assumptions relating to Gemini's performance and competition within the sectors in which it competes, the continuation of the current regulatory and tax regimes in the jurisdictions in which Gemini operates, and necessarily involve known and unknown risks and uncertainties, including risks and assumptions relating to client service demand, field service costs, labour rates, and other factors that may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted or suggested. The Corporation does not undertake to update any forward-looking information in this document whether as to new information, future events or otherwise.

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.

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