Jun. 16, 2009 (Filing Services Canada) -- Telford Services Group, Inc. (TLF - TSX Venture), ("Telford") announces that Aviation Acquisitions Inc. has mailed its previously approved cash offer to the Telford shareholders to acquire by way of take-over bid all of the outstanding Telford common shares at a price of $0.10 per share (the "Offer"). If all Telford Shares (19,891,664 diluted) are tendered the purchase price would be approximately $1,989,166.
The Offer will be open for acceptance for until July 20, 2009. The Offer is subject to the condition that at least 66.67% of the common shares are tendered, and other customary conditions. The Offer has the unanimous support of the board of directors of Telford. Principal shareholders holding 59.2% of the outstanding common shares of Telford have agreed to tender their shares to the Offer.
If the Offer is successful, the Offeror may apply to have the Telford Shares delisted from TSXV. The Offeror may take steps to cause Telford to cease to be a reporting issuer under applicable Securities Laws. The effect of these steps will be that Telford will no longer be required to publicly file or provide to Shareholders financial information or timely disclosure in Canada regarding its affairs.
Telford is a public company formed to provide services to businesses primarily involved in the oilfield exploration and development activities of the oil and gas industry. Telford is engaged in aircraft charter and cargo aircraft services principally to oil and gas companies and operates an aircraft fueling and maintenance facility. In addition, Telford provides a variety of services exclusively to the oil and gas industry throughout Western Canada, including oilfield construction, maintenance and reclamation.
Aviation Acquisitions Inc. is a new private Alberta company whose main business is to finance and invest in projects in the aviation industry.
For further information contact Al J. Kroontje, President of the Corporation at (403) 215-4830 ext. 2025.
The TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for dissemination to United States newswire services or for dissemination in the United States.
Source: Telford Services Group Inc. (TLF TSX-V)
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