GVIC Communications Corp.
TSX : GCT

October 06, 2014 13:55 ET

GVIC Acquires Majority Interest in Evaluate Energy

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 6, 2014) - GVIC Communications Corp. (TSX:GCT) is pleased to announce that, through its affiliates, it has acquired a 60% interest in Evaluate Energy Limited. Evaluate Energy is a leading online provider of information and intelligence to the global and Canadian oil and gas sectors.

Based in London, England, Evaluate Energy has a staff of 12. Its staff will work closely with the JuneWarren-Nickle's Energy Group, GVIC's existing oil and gas business unit, based in Calgary and Edmonton.

Evaluate Energy delivers its online information and services through two databases and related toolkits including:

  • Evaluate Energy: (www.evaluateenergy.com) global database providing asset and corporate valuations, financial and operating data, M&A transactions and refinery project information for international oil and gas companies; and

  • Canoils: (www.canoils.com) provides comprehensive information and overviews relating to Canadian oil and gas companies, including financial and operating data, M&A transactions, financings, oil sands projects and broker forecasts.

Both databases are used by a diverse range of customers - from oil and gas companies and service suppliers to government agencies and financial institutions - to provide critical business and competitive insights.

The investment in Evaluate Energy further enhances GVIC's upstream petroleum sector presence, which represents a significant strategic opportunity. Canada is a major global oil and gas player, and through products and services like The Daily Oil Bulletin, Canadian Oilfield Service and Supply Database and Canadian Energy Supply Chain Forum, GVIC has an established presence in the energy information space. Evaluate Energy substantially enhances GVIC's presence in the sector in terms of expanded information and product offering, expertise, digital footprint, and global reach.

Energy information is an important component of GVIC's broader natural resources information offering. Through the JuneWarren-Nickle's Energy Group, Farm Media, Infomine and the Northern Miner - GVIC offers a wide variety of information and intelligence products to parties involved in and interested in Canada's natural resources industries. The overlap in customers and information needs between the mining, oil and gas and agriculture verticals is significant. GVIC intends to place significant focus on growing both organically and through acquisition to increasingly meet the information needs of clients in this space.

Shares in GVIC can be traded on the Toronto Stock Exchange under the symbol GCT.

About the Company: GVIC Communications Corp. is an information communications company focused on the provision of primary and essential information and related services through print, electronic and online media.

Forward Looking Statements

This news release contains forward-looking statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates. These forward-looking statements include statements relating GVIC's intention to place significant focus on growing both organically and through acquisition. These forward looking statements are subject to risks, uncertainties and other factors which may cause results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, and undue reliance should not be placed on such statements.

Important factors that could cause actual results to differ materially from these expectations are listed in the Company's Annual Information Form under the heading "Risk Factors" and in the Company's MD&A under the heading "Business Environment and Risks", many of which are out of the Company's control. These factors include, but are not limited to, closing risks and risks relating to the integration of new businesses.

The forward-looking statements made in this news release relate only to events or information as of the date on which the statements are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contact Information

  • Mr. Mark Melville
    Executive Vice-President
    Corporate Development
    604-418-5972