TSX Venture Symbol: CFL
CALGARY, April 23, 2012 /PRNewswire/ - CERF Incorporated ("CERF"), is pleased to announce that on April 20, 2012, it completed the acquisition of all, or substantially all, of the assets used in the business of The Bin Company Inc. ("Bin Company") through CERF's wholly owned subsidiary, The Smart-Way Disposal & Recycling Company Ltd. ("Smart-Way"). Bin Company's business involves waste collection, reduction and disposal in and around the Edmonton, Alberta area market.
CERF paid a cash purchase price of $1,050,000 as consideration for the assets. The cash was provided from existing credit facilities. The effective date of the transaction is April 1, 2012.
Mr. Wayne Wadley, president of CERF states, "We are pleased to acquire the assets of The Bin Company Inc. as they will integrate nicely with our existing operations of Smart-Way in the Edmonton area. Smart-Way's strategy to increase our presence in the homeowner and retail markets with products like our EZ-Bag® will now be accelerated with the addition of Bin Company's BinBagTM. Bin Company's fleet of trucks and disposal bins and diverse customer base will also complement Smart-Way's fleet of similar assets."
CERF is a Canadian public corporation engaged in the rental, sale and service of industrial and construction equipment and waste management and environmental services. CERF trades on the TSX Venture Exchange under the symbol "CFL". More information on CERF can be seen at www.cerfcorp.com. Details of the products and services offered by Smart-Way are available at www.smartwaydisposal.com and information on The Bin Company Inc. is available at www.bincompany.com. Related subsidiaries of CERF include 4-Way Equipment Rentals Corp. at www.4-way.com and MCL Waste Systems & Environmental Inc. at www.mclwaste.ca.
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.
Special Note Regarding Forward-Looking Information
This press release contains forward-looking information. All statements, other than those of historical fact, which address activities, events, outcomes, results or developments that CERF anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking information. In particular, this press release refers to CERF's and Smart-Way's corporate goals and strategy, the anticipated benefits of the asset acquisition and integration of the acquired assets with Smart-Way's business, all of which are forward-looking information. This forward-looking information is based upon on various assumptions, including assumptions regarding the integration of the acquired assets. Readers are cautioned that there is no assurance that the matters referenced herein will proceed as set forth herein. Many factors could cause the performance or achievement by CERF and Smart-Way to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information. These factors include the failure to achieve CERF's and Smart-Way's anticipated goals and strategies and the anticipated benefits of the acquisition. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking information contained in this press release are expressly qualified by this cautionary statement. CERF is not under any duty to update any of the forward-looking information after the date of this press release or to conform such statements to actual results or to changes in CERF's expectations and CERF disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE CERF Inc.