ST. ALBERT, ALBERTA--(Marketwire - Dec 13, 2012) - Enterprise Group, Inc. ("Enterprise" or the "Company") (TSX:E) is pleased to provide the following corporate update on recent activities.
The Company''s recent acquisition, Artic Therm International Ltd. has just completed a pipeline thermal expansion project near Fort McMurray for the world''s largest producer of bitumen. Artic Therm utilized the largest units of their fleet to complete the project. These units will be quickly turned around to prepare for another pipeline thermal expansion project located in the Swan Hills region of north central Alberta. Early in 2013, Artic Therm has been contracted for another significant pipeline thermal expansion project in North Eastern British Columbia by Canada''s largest natural gas producer.
E One Limited, heavy equipment rental division is pleased to report that a prominent Canadian pipeline contractor has secured a significant portion of E One''s fleet to complete a major pipeline project. E One expects that the equipment will be utilized for the entire winter construction season.
Further to a news release dated November 14, 2012, with respect to a letter of intent to acquire a utility maintenance company, Enterprise stated that the target was completing a corporate reorganization to prepare itself for the impending sale. At this time Enterprise has been unable to confirm the status of the reorganization.
Engages Investor Relations Firm: Enterprise Group, Inc. has retained First Canadian Capital Corp ("First Canadian" or "the Consultant") to provide investor relations, corporate marketing and strategic awareness services. The contract is for an initial period of twelve months and may be extended by mutual consent. Under the terms of the agreement, Enterprise will pay First Canadian $6,500 per month for a 12-month term and will grant the Consultant 350,000 stock options. The options have an exercise price of $0.25 and will vest be in accordance with the policies of the TSX Exchange.
Enterprise is engaging First Canadian to enhance investor awareness through exposure to the consultant''s vast financial professional and private retail database. First Canadian will generate value by introducing Enterprise''s compelling story to brokers, portfolio managers, analysts, individual investors and the media. In addition to an aggressive road show schedule, First Canadian will serve as the day to day, primary line of communication for prospective and existing shareholders that have an interest in Enterprise Group, Inc.
Forward Looking Statements
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or the Company''s future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on current beliefs or assumptions as to the outcome and timing of future events. Actual future results may differ materially. In particular, statements with respect to anticipated activity levels and profitability of the Company''s utility and infrastructure division and anticipated increases in revenue and margins attributed to services provided by the Company to the energy sector contain forward looking information. The Company''s Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company''s expectations for the next year. The forward-looking statements and information may not be appropriate for other purposes. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.