TORONTO, July 6, 2022
/CNW/ - TerraVest Industries Inc., (TSX: TVK) ("TerraVest" or the
"Company") announces today that it has acquired all the issued and
outstanding shares of Platinum Energy Services Ltd. ("Platinum" or
the "Company"). Platinum is a manufacturer of energy
processing equipment with operations in Medicine Hat Alberta.
Dustin Haw, Chief Executive
Officer of TerraVest, welcomes the employees of Platinum and looks
forward to their continuing commitment to the business and its
customers. "Platinum is a small transaction for us, but one that
further enhances our manufacturing capabilities and competitiveness
in our processing equipment businesses in Western Canada. I would like to welcome the
employees of Platinum." said Mr. Haw.
TerraVest will acquire Platinum using existing cash and credit
facilities.
Caution Regarding Forward-Looking
Statements
This news release contains forward-looking
statements. All statements other than statements of
historical fact contained in this news release are forward-looking
statements, including, without limitation, statements regarding our
strategic direction and evaluation of the business segments and
TerraVest as a whole, and other plans and objectives of or
involving TerraVest. Readers can identify many of these statements
by looking for words such as "expects" and "will" or similar terms
or variations of these words. Although management believes that the
expectations represented in such forward-looking statements are
reasonable, there can be no assurance that such expectations will
prove to be correct.
By their nature, forward-looking statements require us to
make assumptions and, accordingly, forward looking statements are
subject to inherent risks and uncertainties. There is significant
risk that the forward-looking statements will not prove to be
accurate. We caution readers of this news release not to place
undue reliance on our forward-looking statements because a number
of factors may cause actual future circumstances, results,
conditions, actions or events to differ materially from the plans,
expectations, estimates or intentions expressed in the
forward-looking statements and the assumptions underlying the
forward-looking statements.
Assumptions and analysis about the performance of TerraVest
as a whole and its business segments, the markets in which the
business segments compete and the prospects and values of the
business segments are considered in setting the business plan for
TerraVest, plans and/or ability to pay dividends, outlook for
operations, financial position, results and cash flows, other plans
and objectives and in making related forward-looking statements.
Such assumptions include, without limitation, demand for
products and services of the business segments in respect of the
Canadian and other markets in which the businesses are active will
be stable, and that input costs to business segments do not vary
significantly from levels experienced
historically. Should any of these factors or
assumptions vary, actual results may differ materially from the
forward-looking statements.
SOURCE TerraVest Industries Inc.