Business
Vertex Resource Group Ltd. Acquires Environmental Service Company in Manitoba - Updated
Vertex Resource Group Ltd. Acquires Environmental Service Company in Manitoba - Updated ...
About this update from Vertex Resource Group Ltd.
[{"type":"text","content":"\n\n\n\nVertex Resource Group Ltd. Acquires Environmental Service Company in Manitoba - Updated\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSHERWOOD PARK, AB, June 7, 2018\n\n\n\nAcquisition of the Business of TSL Industries Further Expands Vertex's Presence in Manitoba & Grows Vertex's Service Offering\n\n\n\nSHERWOOD PARK, AB, June 7, 2018 /CNW/ - (TSX.V: VTX) – Further to the press release earlier today announcing the acquisition by Vertex Resource Group Ltd. (\"Vertex\") of TSL Industries, an environmental services company that provides vacuum, hydro vac, fluid hauling, hot oiling and pressure truck services in Manitoba, the acquisition was completed for a purchase price of $4.55 million which includes the assumption of $1.3 million of debt. The remaining $3.25 million was paid with a $2.5 million non-interest bearing promissory note payable over 2 years and $750,000 in cash. TSL Industries' company owned and maintained fleet of equipment is used to serve the oil and gas industry, as well as clients in other sectors including utilities and municipal work in the Virden, Manitoba area.  \n\n\n \n \n\n \nABOUT VERTEXEstablished in 1976, Vertex has grown to become a leading provider of environmental and environmentally focused industrial services. Headquartered in Sherwood Park, Alberta, Vertex employs a staff of approximately 750 employees that service a wide array of customers in industries such as upstream and midstream oil and gas, utilities, telecommunication, forestry, agriculture and government. \n\nVertex principally operates in western Canada and has some locations in the United States.\n\nFORWARD-LOOKING INFORMATIONAny \"financial outlook\" or \"future oriented financial information\" in this press release, as defined by applicable securities laws, has been approved by management of Vertex. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers...