Business
Canadian Equipment Rental Fund Limited Partnership closes tranche one of private placement of limited partnership units
Canadian Equipment Rental Fund Limited Partnership closes tranche one of private placement of limited partnership units.
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\n\n\nTSX Venture Symbol: CFL.UN\n\nCALGARY, Oct. 4 /CNW/ - Canadian Equipment Rental Fund Limited\nPartnership (\"CERF LP\") has closed the first tranche of the previously\nannounced private placement, on a non-brokered basis. CERF LP issued 640,000\nlimited partnership units of CERF LP (\"Units\") at a price of $2.50 per Unit\nfor gross proceeds of $1,600,000. CERF LP paid an aggregate finder's fee of\n$84,000 to certain agents in consideration for placing 480,000 Units under the\nprivate placement. The Units issued pursuant to the private placement are\nsubject to a hold period that expires on February 5, 2007. A second tranche of\nthe private placement for up to an additional 960,000 Units, also at a price\nof $2.50 per Unit, is expected to be completed later in October, 2006.\nThe proceeds of the private placement will be used to fund the purchase\nof equipment and to thereby expand CERF LP's equipment rental fleet and for\ngeneral partnership purposes.\n\nAdvisory regarding forward-looking statements\n\nThis press release contains forward-looking statements. These\nforward-looking statements are subject to various risk factors and\nuncertainties, which may cause the actual results, performances or\nachievements of CERF LP to be materially different from any future results,\nperformances or achievements expressed or implied by such forward-looking\nstatements.\nCERF LP is an Alberta limited partnership engaged in the rental, sale and\nservice of industrial and construction equipment. CERF LP trades on the TSX\nVenture Exchange under the symbol \"CFL.UN\" and now has 3,938,116 Units issued\nand outstanding.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n%SEDAR: 00022335E\n\n\n","length":1805,"tagName":"div"}]