TSX Venture Symbol: CFL.UN
CALGARY, Oct. 24 /CNW/ - Canadian Equipment Rental Fund Limited
Partnership ("CERF LP") has closed the second and final tranche of the
previously announced private placement, on a non-brokered basis ("Tranche
Two"). Under Tranche Two CERF LP issued 960,000 limited partnership units of
CERF LP ("Units") at a price of $2.50 per Unit for gross proceeds of
$2,400,000. When combined with the issuance of 640,000 Units under the first
tranche which closed on October 4, 2006 CERF LP issued a total of 1,600,000
Units at a price of $2.50 per Unit for aggregate gross proceeds of $4,000,000.
In connection with Tranche Two CERF LP paid an aggregate finder's fee of
$165,585 to certain agents in consideration for placing 946,200 Units under
Tranche Two of the private placement. The Units issued pursuant to Tranche Two
of the private placement are subject to a hold period that expires on
February 25, 2007.
The proceeds of the private placement will be used to fund the purchase
of equipment and to thereby expand CERF LP's equipment rental fleet and for
general partnership purposes.
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" and now has 4,902,282 Units issued
and outstanding.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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