CALGARY, Oct. 6 /PRNewswire-FirstCall/ -- Badger Income Fund ("Badger") announced that, at the request of the Alberta Securities Commission, it has re-filed its annual certifications by its Chief Executive Officer and Chief Financial Officer for its annual filings for the period ended December 31, 2004.
The original certificates (the "Original Certificates") certifying the annual filings of Badger for the period ended December 31, 2004 were filed on SEDAR on March 24, 2005. The initial annual information form ("AIF") of Badger in respect of that period was also filed on March 24, 2005. However, the AIF was subsequently revised and the revised AIF was filed on April 14, 2005. Consequently, the revised AIF served as the revised initial AIF of Badger under National Instrument 44-101 Short Form Prospectus Distributions. The certificates being filed as of today's date are being filed in order to certify the revised AIF filed on April 14, 2005. As of the date of this notice, the Original Certificates are superseded and replaced by the Form 52-109FT1s of Tor Wilson, President and Chief Executive Officer and of Greg Kelly, CA, VP Finance and Chief Financial Officer both dated October 6, 2006 filed by Badger with the Canadian securities regulatory authorities through SEDAR.
Badger Income Fund is an open-ended trust that is North America's largest provider of non-destructive excavating services. Badger traditionally works for contractors and facility owners in the utility and petroleum industries. Our key technology is the Badger Hydrovac, which is used primarily for safe digging in congested grounds and challenging conditions. The Badger Hydrovac uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. Badger manufactures its truck -mounted hydrovac units.
Badger Income Fund's business model involves the provision of excavating services through two distinct entities: the Operating Partners (franchisees in the United States and agents in Canada), and Badger Corporate. Badger Corporate works with its Operating Partners to provide Hydrovac service to the end user. In this partnership, Badger provides the expertise, the trucks, and North American marketing and administration support. The Operating Partners deliver the service by operating the equipment and developing their local markets. All work is invoiced by Badger and then shared with the Operating Partner based upon a revenue sharing formula. In limited locations Badger has established corporate run operations to market and deliver the service in the local area.
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