/NOT FOR RELEASE IN THE UNITED
STATES OR DISSEMINATION OF UNITED
STATES NEWS WIRE SERVICES/
ST. ALBERT, AB,
March 25, 2014 /CNW/ - Enterprise
Group, Inc. ("Enterprise" or the "Company") (TSX:E) is pleased to
announce that it has closed its previously announced bought deal
equity financing of 27,600,000 common shares ("Common Shares") of
the Company, which includes 3,600,000 Common Shares issued pursuant
to the exercise in full of the over-allotment option, at a price of
$1.00 per Common Share for aggregate
gross proceeds of $27,600,000 (the
"Financing"). The Financing was underwritten by a syndicate of
underwriters led by Canaccord Genuity Corp. and GMP Securities L.P.
and included Jennings Capital Inc., PI Financial Corp. and Salman
Partners Inc.
The net proceeds from the Financing will be used
to accelerate the Company's capital expenditure program, as well as
for general working capital purposes.
The Common Shares have not been, nor will they
be registered under the United
States Securities Act of 1933, as amended, and may
not be offered or sold within the United
States absent U.S. registration or an applicable exemption
from such registration requirements. This press release does not
constitute an offer for sale or the solicitation of an offer to buy
Common Shares in the United States
or in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
About Enterprise Group, Inc.
Enterprise Group, Inc. is a consolidator of construction services
companies operating in the energy, utility and transportation
infrastructure industries. The Company's focus is primarily
construction services and specialized equipment rental. The
Company's strategy is to acquire complementary service companies in
Western Canada, consolidating
capital, management and human resources to support continued
growth. Enterprise became a Western Canadian leader in flameless
heat technology in September 2012
with its acquisition of Artic Therm International Ltd., a leader in
underground infrastructure construction in June 2013 with the acquisition of Calgary
Tunnelling & Horizontal Augering Ltd., and a leader in oilfield
service rentals in January 2014 with
the acquisition of Hart Oilfield Rentals Ltd.
Forward Looking Information
Certain statements contained in this news 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" and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward-looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of such future
events. In particular, forward-looking statements contained
in this press release include, but are not limited to the
anticipated use of net proceeds of the Financing. These
forward-looking statements are based on assumptions and are subject
to numerous risks and uncertainties, certain of which are beyond
the Company's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices,
competition, stock market volatility and the ability to access
sufficient capital. Actual future results may differ
materially. The Company's annual information form for the year
ended December 31, 2012 and other
documents filed with securities regulatory authorities (accessible
through the SEDAR website www.sedar.com) describe the risks,
material assumptions and other factors that could influence actual
results and which are incorporated herein by reference. 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.
SOURCE Enterprise Group, Inc.