CALGARY, Dec. 8 /PRNewswire-FirstCall/ -- Canadian Equipment Rental Fund Limited Partnership ("CERF LP") has agreed to lend $530,740 to certain employees (the "Employee Loans") for purposes of purchasing, on a private placement basis, an aggregate 223,000 limited partnership units of CERF LP ("Units") at a price of $2.38 per Unit ("the "Private Placement"). CERF LP proposes to enter into loan arrangements with certain key employees of CERF LP, with respect to the foregoing transactions for purposes of promoting employee retention. The loans are expected to be made on a long term basis with interest thereon at the Canada Revenue Agency prescribed rate and to be made on a limited recourse basis secured by the 223,000 Units purchased with the proceeds of the Employee Loans.
The completion of the Employee Loans and the Private Placement are subject to the approval of the TSX Venture Exchange.
Advisory regarding forward-looking statements
This press release contains forward-looking statements. These forward-looking statements are subject to various risk factors and uncertainties, which may cause the actual results, performances or achievements of CERF LP to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements.
CERF LP is an Alberta limited partnership engaged in the rental, sale and service of industrial and construction equipment. CERF LP trades on the TSX Venture Exchange under the symbol "CFL.UN".
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
