Canadian Equipment Rental Fund Limited Partnership closes corporate conversion to become CERF Incorporated

Oct 03, 2011, 07:00 ET from Canadian Equipment Rental Fund Limited Partnership

TSX Venture Symbol: CFL (formerly CLF. UN)

CALGARY, Oct. 3, 2011 /PRNewswire/ - Further to its press release of August 30, 2011, Canadian Equipment Rental Fund Limited Partnership ("CERF LP") and CERF Incorporated ("CERF Inc.") announce the results of the special meeting of the holders ("Unitholders") of limited partnership units ("Units") of CERF LP to approve the plan of arrangement under Section 193 of the Business Corporations Act (Alberta) (the "Arrangement") with CERF GP Corp. (the "General Partner"), the general partner of CERF LP, CERF Inc., a wholly owned subsidiary of CERF LP, and the Unitholders, relating to the Arrangement. The Arrangement resulted in the conversion of CERF LP from a limited partnership to a taxable Canadian corporation, namely, CERF Inc. effective October 1, 2011.

The Arrangement was approved at the special meeting of Unitholders on September 29, 201 by 99.14% of the votes cast by the Unitholders. The Arrangement was also approved by the Court of Queen's Bench of Alberta on September 30, 2011.

Pursuant to the Arrangement, Unitholders received one common share of CERF Inc. (each, a "Common Share") in exchange for each Unit held as of October 1, 2011. Upon completion of the Arrangement, Unitholders own all of the issued and outstanding Common Shares and CERF Inc. owns all of the issued and outstanding Units and carries on the businesses presently carried on by CERF LP. The board of directors of CERF Inc. is comprised of the previous members of the board of directors of the General Partner and the management of CERF Inc. is comprised of the previous management of the General Partner, CERF LP and its subsidiaries. The Arrangement did not result in any benefits for, or change of control, termination or other payments being made to, any officers, directors or employees of CERF LP or any of its subsidiaries or of the General Partner.

CERF Inc. is an Alberta corporation engaged in the rental, sale and service of industrial and construction equipment and in waste management services.  CERF Inc. trades on the TSX Venture Exchange under the symbol "CFL" (formerly CFL.UN) and currently has 9,530,906 Common Shares issued and outstanding.

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.

SOURCE Canadian Equipment Rental Fund Limited Partnership