Macro Enterprises Inc. ("Macro") is pleased to announce its wholly-owned subsidiaries have completed the acquisition of the business owned and operated by North American Pipeline Inc. and North American Fleet Company Ltd. of constructing, installing, maintaining, testing and repairing pipelines and facilities in the oil and gas industry throughout Western Canada together with certain assets used in carrying on the business including pipeline construction machinery and equipment.
The acquisition includes an assignment of a master services agreement with a major pipeline company to test and maintain certain aspects of its pipeline network. The purchase price of $16,250,000 was paid in full in cash on closing of the transaction. Filing for TSX Venture Exchange final acceptance of the transaction has been made.
Macro's core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in northeastern BC and northwestern Alberta. The Company's corporate office is in Calgary, Alberta. Its shares are listed on the TSXV under the symbol MCR. Information on the Company's principal operating unit, Macro Industries Inc., can be found at www.macroindustries.ca.
Neither TSX Venture Exchange 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.