/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
ST. ALBERT, AB,
March 4, 2014 /CNW/ - Enterprise
Group, Inc. ("Enterprise," or the "Company") (TSX:E) is pleased to
announce that it has entered into an agreement with a syndicate of
underwriters led by Canaccord Genuity Corp. and GMP Securities L.P
(collectively the "Underwriters"), to issue, on a bought deal
basis, 12,000,000 common shares (the "Common Shares") at a price of
$1.00 per Common Share, for aggregate
gross proceeds of $12,000,000 (the
"Offering").
In addition, the Underwriters have been granted
an option (the "Over-Allotment Option") to purchase up to an
additional 1,800,000 Common Shares to cover over-allotments, if
any, for gross proceeds of $1,800,000. If the Over-Allotment Option is fully
exercised, gross proceeds from the Offering will be $13,800,000. The Over-Allotment Option is
exercisable in whole or in part for a period of 30 days following
closing of the Offering.
Enterprise will use the net proceeds from the
Offering to expand the Company's capital program, as well as for
general corporate purposes.
Closing of the Offering is expected to occur on
or about March 25, 2014 and is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the
Toronto Stock Exchange.
The securities offered have not been and will
not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or
applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities 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 Statements
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 expected
approvals for, and the closing of, the Offering, and the use of
proceeds from the Offering. 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.