Sign Up for FREE Daily Energy News
WEC - Western Engineered Containment
Copper Tip Energy Services
Hazloc Heaters
WEC - Western Engineered Containment
Copper Tip Energy
Hazloc Heaters

Canadian Equipment Rentals Corp. Closes Loan and Security Agreement with Maynbridge Capital Inc.


Date issue: April 28, 2017
Time in: 5:30 PM e


CALGARY, ALBERTA--(Marketwired - April 28, 2017) - Canadian Equipment Rentals Corp. ("CERC" or the "Company") (TSX VENTURE:CFL) is pleased to announce that it has closed the previously announced $20.4 million loan transaction (the "Loan Transaction") between CERC and Maynbridge Capital Inc. ("Maynbridge") and repaid the existing syndicated lenders in full.

The Company is also pleased to announce that it has completed the conversion of $2.5 million of debt owing to a company controlled by Mr. Dean Swanberg in exchange for 10 million common shares of the Company, representing a price of $0.25 per share.

Concurrently with the closing of the Loan Transaction, the directors of CERC have appointed Mr. Swanberg and Mr. Dean Shillington, CEO of Maynbridge, to the Company's Board of Directors. Mr. Swanberg's experience and reputation as a veteran oilfield executive in Western Canada and Mr. Shillington's business and finance expertise are expected to be of great value to the Company.

About Canadian Equipment Rentals Corp.
Canadian Equipment Rentals Corp. is a Canadian public corporation and parent
company to Zedcor Energy Services Corp. ("Zedcor"). Zedcor is engaged in the
rental of surface equipment and accommodations to the Western Canadian Oil and
Gas Industry. The Company trades on the TSX Venture Exchange under the symbol

About Maynbridge Capital Inc.
Maynbridge Capital Inc. ( is a boutique lender that
specializes in equipment and property financing to companies across Canada.
With offices in Vancouver, Calgary, Toronto, Ottawa and Montreal, Maynbridge is
an asset-based lender that assists companies through periods of transition in
all economic climates.

Forward-Looking Statements and Information
Certain statements included or incorporated by reference in this press release
constitute forward-looking statements or forward-looking information.
Forward-looking statements or information may contain statements with the words
"anticipate", "believe", "expect", "plan", "intend", "estimate", "propose",
"budget", "should", "project", "or similar words suggesting future outcomes or
expectations. In particular, forward-looking statements and information
contained in this press release, include, but are not limited to, expected
benefits of the appointment of new directors of the Company. Although the
Company believes that the expectations implied in such forward-looking
statements or information are reasonable, undue reliance should not be placed
on these forward-looking statements because the Company can give no assurance
that such statements will prove to be correct. Forward-looking statements or
information are based on current expectations, estimates and projections that
involve a number of assumptions about the future and uncertainties. Although
management believes these assumptions are reasonable, there can be no assurance
that they will be proved to be correct, and actual results will differ
materially from those anticipated. For this purpose, any statements herein that
are not statements of historical fact may be deemed to be forward-looking
statements. The forward-looking statements or information contained in this
press release are made as of the date hereof and the Company assumes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new contrary information, future events or
any other reason, unless it is required by any applicable securities laws. The
forward-looking statements or information contained in this press release are
expressly qualified by this cautionary statement.

Neither 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.

- END RELEASE - 28/04/2017

For further information:
Ken Olson
Chief Financial Officer
(403) 930-5434


INDUSTRY: Energy and Utilities - Equipment, Energy and Utilities -
Oil and Gas
RELEASE ID: 20170428CC0084

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.

Share This:

More News Articles

New SHOWCASE Directory Companies


Hy-Lok Distribution Inc
Catch Engineering
GLJ Petroleum Consultants Ltd.
Pacbrake Company
Fusion Production Systems Inc
Clear Glycol Inc.