TSX Venture Symbol: CFL.UN
CALGARY, Oct. 4 /CNW/ - Canadian Equipment Rental Fund Limited
Partnership ("CERF LP") has closed the first tranche of the previously
announced private placement, on a non-brokered basis. CERF LP issued 640,000
limited partnership units of CERF LP ("Units") at a price of $2.50 per Unit
for gross proceeds of $1,600,000. CERF LP paid an aggregate finder's fee of
$84,000 to certain agents in consideration for placing 480,000 Units under the
private placement. The Units issued pursuant to the private placement are
subject to a hold period that expires on February 5, 2007. A second tranche of
the private placement for up to an additional 960,000 Units, also at a price
of $2.50 per Unit, is expected to be completed later in October, 2006.
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 3,938,116 Units issued
and outstanding.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
%SEDAR: 00022335E
