CERF Incorporated Acquires the Assets of The Bin Company Inc.
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 BinBag(TM). 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.