SOURCE: Aveda Transportation and Energy Services

Aveda Transportation and Energy Services

December 30, 2015 16:59 ET

Werklund Increases Its Holdings of Aveda Transportation and Energy Services Inc. Common Shares

CALGARY, AB--(Marketwired - December 30, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Aveda Transportation and Energy Services Inc. ("Aveda") (TSX VENTURE: AVE). On December 30, 2015, Werklund Ventures Ltd. ("Werklund"), acquired ownership and control of an aggregate of 1,075,600 common shares in the capital of Aveda ("Common Shares"), representing approximately 5.6% of the issued and outstanding Common Shares from two arms-length funds, pursuant to a share purchase agreement dated December 17, 2015 (the "Transaction"). The 1,075,600 Common Shares were purchased by Werklund at a price of $0.70 per Common Share. As a result of the transaction, Werklund, together with its affiliated company Werklund Capital Corporation, now owns and controls an aggregate of 7,642,935 Common Shares, or 40.1% of the outstanding Common Shares.

Werklund acquired the additional Common Shares for investment and strategic purposes. Werklund may in the future take such actions in respect of its shareholdings in Aveda as it may deem appropriate in light of the circumstances then existing, including the purchase of additional Common Shares or other securities in the capital of Aveda through open-market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers, in each case in accordance with applicable securities laws.

Werklund has filed an Early Warning Report with the applicable securities regulators in connection with this increase in ownership of Common Shares, and a copy of such report is available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information contact:
    Werklund Ventures Ltd.
    4500 Devon Tower
    400 - 3rd Avenue SW
    Calgary, Alberta T2P 4H2
    Telephone: (403) 231-6545