November 16, 2016 17:19 ET
OKOTOKS, ALBERTA--(Marketwired - Nov. 16, 2016) - Mullen Group Ltd. ("Mullen Group" and/or the "Corporation") (TSX:MTL) has received notice from Mr. Roland Mullen, the Founder of Mullen Group, that estate planning initiatives are being considered in respect of, amongst other things, common shares in the capital of the Corporation ("Shares").
By way of background, Mr. Roland Mullen started the business of Mullen Group in 1949 as a sole proprietor with a single truck. In 1993 the family business, Mullen Trucking Ltd., was listed on the Toronto Stock Exchange and became a publicly traded company. Today Mullen Group is one of Canada's leading suppliers of trucking and logistics services in Canada as well as one of the largest providers of specialized transportation and related services to the oil and natural gas industry in western Canada.
The Corporation is advised that Roland and Leona Mullen exercise direction or control over approximately seven million Shares through various holding entities. The Corporation understands that the estate planning initiative contemplates the sale of up to two million Shares over the next twelve months subject to several factors including market conditions. Mullen Group will not facilitate any trades contemplated in the estate planning initiative and is advised that such trades will be conducted, to the extent possible, in an orderly manner. Mr. Roland Mullen is not an insider or control person of the Corporation and it is not anticipated that the Corporation will receive any updates relating to the estate planning initiatives or the sale of Shares contemplated thereby.
Mullen Group is a company that owns a network of independently operated businesses. The Corporation is recognized as one of the leading suppliers of trucking and logistics services in Canada and provides a wide range of specialized transportation and related services to the oil and natural gas industry in western Canada - two sectors of the economy in which Mullen Group has strong business relationships and industry leadership. The corporate office 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.
Mullen Group Ltd.Mr. Murray K. MullenChairman of the Board, Chief Executive Officer and President403-995-5200 or Toll Free: 1-866-995-7711403-995-5296 (FAX)www.mullen-group.com
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