Macro Enterprises Inc.
TSX VENTURE : MCR

Macro Enterprises Inc.

September 19, 2007 00:16 ET

Macro Enterprises Acquires Omineca Oilfield Services

CALGARY, ALBERTA--(Marketwire - Sept. 19, 2007) - Macro Enterprises Inc. (TSX VENTURE:MCR) ("Macro" and/or the "Company") today announced that it has acquired 100% of the assets of Omineca Oilfield Services Ltd. ("Omineca") of Chetwynd, B.C. Omineca is a premier supplier of facilities maintenance services to the oil and gas installations located in the northern B.C. region. Omineca has been serving the needs of their clients since 1995.

"Omineca represents a major step forward for Macro to grow our facilities maintenance business. Our goal is to continue to expand our traditional pipeline construction business, and to add maintenance services to our Company," said Macro Chief Executive Officer, Norm Rokosh. "We are very impressed with the strength of Omineca's management team and their excellent reputation for delivering quality services to their clients."

"This transaction gives Omineca the opportunity to continue to expand in our core market area of northern B.C.," said Omineca President, Ron Lefebvre. "We intend to use Macro's resources to enhance our services to our current customers, and expand further into the local market. I look forward to joining the Macro management team and in making our combined Company a success." The business will continue to operate under the "Omineca" trade name.

The purchase price is comprised of $2.0 million cash plus the issuance of 1,333,334 common shares of Macro (subject to normal closing and post closing adjustments). Macro will hold the common shares in escrow for periods of up to two years and will release these common shares from escrow depending on the level of earnings attained by Omineca over this period.

Macro is a Tier 1 TSX Venture Exchange issuer. The Company conducts its operations through its wholly owned subsidiary, Macro Industries Inc. Macro's core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in northeastern B.C. and northwestern Alberta. Macro will continue its strategy of pursuing acquisition of high quality, high margin pipeline and facilities construction and maintenance companies to add to its growing list of customer services.

Forward-Looking Statements

Certain statements in this press release include forward-looking information that involves various risks and uncertainties. These include, without limitation, statements regarding the anticipated results of the Omineca acquisition. These risks and uncertainties include, but are not restricted to, government regulation of energy and resource companies including the recently announced changes to the taxation of income trusts, seasonal weather patterns, maintaining and increasing market share, terrorist activity, the price and availability of alternative fuels, the availability of pipeline capacity, potential instability or armed conflict in oil producing regions and the overall economic environment. For a more detailed description of these risks and uncertainties, please see the section "Risk Factors" in the Company's Annual Information Form for the fiscal period ended December 31, 2006 available on SEDAR at www.sedar.com. There can be no assurance that such forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Macro Enterprises Inc.
    Norman Rokosh
    Chief Executive Officer
    (403) 229-1881
    (403) 229-1889 (FAX)
    Website: www.macroindustries.ca