Mullen Group Ltd.
TSX : MTL

Mullen Group Ltd.

December 01, 2014 17:04 ET

Mullen Group Ltd. Closes Investment Transaction in Kriska Transportation Group Limited

OKOTOKS, ALBERTA--(Marketwired - Dec. 1, 2014) - Mullen Group Ltd. ("Mullen Group" and/or the "Corporation") (TSX:MTL) announced today the closing of the previously announced investment in a new growth orientated transportation and logistics company, Kriska Transportation Group Limited ("Kriska Transportation"). Mullen Group contributed its interest in Mill Creek Motor Freight L.P. ("Mill Creek") in exchange for a 30 percent equity interest in Kriska Transportation. Mark Seymour contributed his interest in Kriska Holdings Limited ("Kriska Holdings") in exchange for a 70 percent equity interest in Kriska Transportation. Both Mill Creek and Kriska Holdings will operate as wholly owned subsidiaries of Kriska Transportation. Kriska Transportation will be one of the largest growth orientated Ontario based transportation and logistics companies.

This news release may contain forward-looking statements that are subject to risk factors associated with the oil and natural gas business and the overall economy. Mullen Group believes that the expectations reflected in this news release are reasonable, but results may be affected by a variety of variables. Mullen Group relies on litigation protection for "forward-looking" statements.

Mullen Group is a company that owns a network of independently operated businesses. Mullen Group provides a wide range of specialized transportation and related services to the oil and natural gas industry in western Canada and is one of the leading suppliers of trucking and logistics services in Canada - two sectors of the economy in which Mullen Group has strong business relationships and industry leadership. Mullen Group provides management and financial expertise, technology and systems support, shared services and strategic planning to its independent businesses.

Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol "MTL". Additional information is available on our website at www.mullen-group.com or on SEDAR at www.sedar.com.

Contact Information

  • Mullen Group Ltd.
    Mr. Murray K. Mullen
    Chairman of the Board, Chief Executive Officer and President
    403-995-5200
    403-995-5296 (FAX)

    Mullen Group Ltd.
    Mr. P. Stephen Clark
    Chief Financial Officer
    403-995-5200
    403-995-5296 (FAX)

    Mullen Group Ltd.
    Mr. Richard J. Maloney
    Senior Vice President
    403-995-5200
    403-995-5296 (FAX)
    www.mullen-group.com