CALGARY, Oct. 31 /PRNewswire-FirstCall/ -- (TSX - MTL.UN) The Mullen Group Income Fund ("Mullen" and/or the "Fund") announced today the closing of its acquisition of Pro North Well Management Ltd. and Pro North Oilfield Services Ltd. ("Pro North"), private companies based in Fort Nelson, British Columbia, which have been in operation since 1991. Pro North provides fluid transportation and tank services to the oil and gas industry in and around Fort Nelson, British Columbia.
"We are pleased to add Pro North to our organization. It is an outstanding company that strengthens our fluid hauling capacity in the Fort Nelson region. Pro North has been in business for 16 years and has built an exceptional reputation for providing outstanding service to its customers, which will make them a very good fit into the Mullen business model," stated Stephen H. Lockwood, President and Co-CEO.
Mullen is also very pleased to announce that the principal of Pro North, Marshall Ellis, has agreed to remain with Pro North to oversee its operations. Pro North will be added to Mullen's Oilfield Services segment.
This press release may contain forward-looking statements that are subject to risk factors associated with the oil and gas business and the overall economy. The Fund believes that the expectations reflected in this press release are reasonable, but results may be affected by a variety of variables. The Fund relies on litigation protection for "forward-looking" statements.
Mullen is an open-ended income fund that owns a network of independently operated businesses. Today the Mullen Group is recognized as the largest provider of specialized transportation and related services to the oil and natural gas industry in western Canada and as one of the leading suppliers of trucking and logistics services in Canada - two sectors of the economy in which the Fund has strong business relationships and industry leadership. Administration of the Fund is delegated to Mullen Group Inc. which, in addition to managing the Fund, provides management and financial expertise, technology and systems support to its independent businesses.
Mullen is a publicly traded income trust listed on the Toronto Stock Exchange under the symbol "MTL.UN". Additional information is available on our website at http://www.mullen-group.com/.
