MM Asset Management Inc.

October 09, 2012 17:58 ET

MM Asset Management Inc. Acquires Control Over Common Shares of Hyduke Energy Services Inc.

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP"), has acquired 2,000 common shares ("Shares") of Hyduke Energy Services Inc. ("Hyduke") since a take-over bid for all of the outstanding Shares was filed by Do All Industries Ltd. with the securities regulatory authorities on October 5, 2012. The Shares were acquired through the facilities of the Toronto Stock Exchange.

MMCAP now beneficially owns and MMAM exercises control and direction over 2,366,600 Shares of Hyduke, representing approximately 9.79% of the outstanding Shares based on 24,162,364 issued and outstanding Shares as of August 14, 2012 as reported in Hyduke's management's discussion and analysis dated August 13, 2012.

MMCAP has acquired such securities for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of Hyduke or dispose of such securities in the open market, by private agreement or otherwise.

Contact Information

  • MM Asset Management Inc.
    Matthew MacIsaac
    Secretary
    416.408.0997