News 2017 2017-12-05T07:01:57+00:00
Zedcor Energy Inc. (the “Company”) (TSX VENTURE: ZDC) today announced
the resignation of Mr. Artie T. Kos as a director of the Company.
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Zedcor Energy Inc. (the “Company”) (TSX VENTURE: ZDC) today announced
its financial and operating results for the three and six months ended June 30, 2017.
Download Press Release
Zedcor Energy Inc. (the “Company”) (TSX VENTURE: ZDC) today announced
its financial and operating results for the three and six months ended June 30, 2017.
Download Press Release

Zedcor Energy Inc. (the “Company”) (TSX VENTURE: ZDC) is pleased to announce effective the opening of the TSX Venture Exchange today, the common shares of the Company will commence trading on the TSX Venture Exchange under the trading symbol ZDC. The common shares of Canadian Equipment Rentals Corp. will be delisted. This trading symbol change is in conjunction with the previously announced name change wherewith the branding of the parent company, Zedcor Energy Inc., was aligned with its operating subsidiary Zedcor Energy Services Corp. The change in trading symbol is the final step in management’s recent restructuring efforts to have a parent and single subsidiary company providing wellsite accommodation and equipment rental services into the energy industry under a single name and brand.

About Zedcor Energy Inc.
Zedcor Energy Inc. is a Canadian public corporation and parent company to Zedcor Energy Services
Corp. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the
Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the
symbol “ZDC”.
For further information contact:

Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@zedcor.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.

Canadian Equipment Rentals Corp. (the “Company”) (TSX VENTURE: CFL) is pleased to announce that
at the Annual and Special Meeting of the shareholders of the Company held on June 27, 2017, the proposed
name change of the Company to Zedcor Energy Inc. was approved.

This name change aligns the branding of the parent company, Zedcor Energy Inc., with its operating
subsidiary Zedcor Energy Services Corp., which has an excellent reputation for quality rental assets and
customer service. The recent restructuring efforts by management have culminated in a parent and
single subsidiary company providing rental services into the energy industry requiring a single name and
brand.

In conjunction with the name change, the Company has changed its TSX Venture trading symbol from
CFL to ZDC. The Company expects trading under this symbol to begin on or about June 30, 2017.
About Zedcor Energy Inc.
Zedcor Energy Inc. is a Canadian public corporation and parent company to Zedcor Energy Services
Corp. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the
Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the
symbol “ZDC”.

For further information contact:
Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.

Canadian Equipment Rentals Corp. (the “Company”) (TSX VENTURE: CFL) announces that today options to purchase 400,000 common shares of the Company were granted to directors of the Company and options to purchase 1,600,000 common shares of the Company were granted to officers and employees of the Company, both with an exercise price of $0.25 per share. The options have been granted pursuant to the Company’s 10% rolling stock option plan and will expire five years from the date of grant. All of the options will vest as to one third thereof on each of the first, second and third anniversaries of the date of grant.About Canadian Equipment Rentals Corp.Canadian Equipment Rentals Corp. is a Canadian public corporation and parent company to Zedcor Energy Services Corp. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the symbol “CFL”.For further information contact:Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.
Canadian Equipment Rentals Corp. (the “Company”) (TSX VENTURE: CFL) today announced its financial and operating results for the three months ended March 31, 2017. Download Press Release
Canadian Equipment Rentals Corp. (“CERC” or the “Company”) (TSX VENTURE: CFL) is pleased to announce that it has closed the previously announced $20.4 million loan transaction (the “Loan Transaction”) between CERC and Maynbridge Capital Inc. (“Maynbridge”) and repaid the existing syndicated lenders in full.
The Company is also pleased to announce that it has completed the conversion of $2.5 million of debt owing to a company controlled by Mr. Dean Swanberg in exchange for 10 million common shares of the Company, representing a price of $0.25 per share.
Concurrently with the closing of the Loan Transaction, the directors of CERC have appointed Mr. Swanberg and Mr. Dean Shillington, CEO of Maynbridge, to the Company’s Board of Directors. Mr. Swanberg’s experience and reputation as a veteran oilfield executive in Western Canada and Mr. Shillington’s business and finance expertise are expected to be of great value to the Company.

About Canadian Equipment Rentals Corp.

Canadian Equipment Rentals Corp. is a Canadian public corporation and parent company to Zedcor Energy Services Corp. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the symbol “CFL”.

About Maynbridge Capital Inc.

Maynbridge Capital Inc. (www.maynbridge.ca) is a boutique lender that specializes in equipment and property financing to companies across Canada. With offices in Vancouver, Calgary, Toronto, Ottawa and Montreal, Maynbridge is an asset-based lender that assists companies through periods of transition in all economic climates.

Forward-Looking Statements and Information

Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information may contain statements with the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “budget”, “should”, “project”, “or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, expected benefits of the appointment of new directors of the Company. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties. Although management believes these assumptions are reasonable, there can be no assurance that they will be proved to be correct, and actual results will differ materially from those anticipated. For this purpose, any statements herein that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless it is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

For further information contact:

Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.

Canadian Equipment Rentals Corp. (the “Company”) (TSX VENTURE: CFL) today announced its financial and operating results for the year ended December 31, 2016. Download Press Release

Canadian Equipment Rentals Corp. (“CERC” or the “Company”) is pleased to announce that it has largely completed its restructuring efforts and entered into a Loan and Security Agreement with Maynbridge Capital Inc. (“Maynbridge”).

The corporate restructuring and refinancing is the culmination of over ten months of efforts to eliminate significant costs and inefficiencies in the business and transform the Company from one with multiple business lines, in different industries, operating under a high corporate overhead cost structure, to a lean and focused company operating one business line under a low-cost corporate structure. The Company is now solely focused on the rental of quality assets to top-tier customers in the Western Canadian Sedimentary Basin. The Company continues to experience strong demand for its rental assets and is now well positioned to take advantage of the anticipated improvements in rental rates in conjunction with the overall strengthening of the oil and gas services market.

Through the restructuring process the Company has significantly reduced its total debt through the divestures of non-core subsidiaries, the sale of under-utilized assets and through the retirement of $2.5 million of debt owing to a company controlled by Mr. Dean Swanberg in exchange for 10 million common shares (representing a price of $0.25 per share). This conversion will result in Mr. Swanberg being the largest individual shareholder of the Company, and the balance of the debt owing to Mr. Swanberg’s company being reduced to $2.5 million. The directors of CERC will be appointing Mr. Swanberg to the Company’s Board of Directors where his experience and reputation as a veteran oilfield executive in Western Canada will be of great value to the Company.

As a final step in the restructuring process, the Company will be seeking shareholder approval at the June 27, 2017 Annual and Special Meeting to change the name of the Company from Canadian Equipment Rentals Corp. to Zedcor Energy Inc., thus aligning the parent company branding with its only operating entity, Zedcor Energy Services Corp.

The Company is pleased to be able to partner with Maynbridge Capital for the next year through their asset backed lending solution which is well suited for an asset based rental business such as CERC. In conjunction with this financing, the directors of CERC will be appointing Mr. Dean Shillington, CEO of Maynbridge Capital, to the Company’s Board of Directors. Mr. Shillington’s business and finance expertise will greatly benefit the Company as it executes on its new sharply focused business plan.

The principal amount of the Maynbridge loan is $20.4 million and it has a term of one (1) year (plus a day), with an option to extend for an additional year. The loan bears interest at 12.75% per annum and will be serviced by six months of interest only payments followed by six months of blended interest and principal payments. The proceeds from the loan will be used to repay in full CERC’s existing syndicated credit facility. The loan has no financial covenant requirements as it is to be secured through the value of the Company’s rental assets and a $2.5 million guarantee from Mr. Dean Swanberg.

Under the Loan and Security Agreement, the Company will, subject to TSX Venture Exchange approvals, issue to Maynbridge 3,651,501 share purchase warrants entitling the holder to acquire that number of common shares in the Company representing approximately 6.5% of the fully diluted equity of the Company, at an exercise price of $0.25 per share. The warrants will expire 90 days after the maturity date of the loan.
The closing of the Maynbridge financing is scheduled for on, or before, April 28th, 2017 and is subject to approval by the TSX Venture Exchange and to the satisfaction or waiver of certain conditions precedent typical for equipment loan transactions.

Ernst & Young Orenda Corporate Finance Inc. acted as the Company’s exclusive financial advisor with respect to the refinancing.

About Canadian Equipment Rentals Corp.

Canadian Equipment Rentals Corp. is a Canadian public corporation and parent company to Zedcor Energy Services Corp. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the symbol “CFL”.
About Maynbridge Capital Inc.
Maynbridge Capital Inc. (www.maynbridge.ca) is a boutique lender that specializes in equipment and property financing to companies across Canada. With offices in Vancouver, Calgary, Toronto, Ottawa and Montreal, Maynbridge is an asset-based lender that assists companies through periods of transition in all economic climates.

Forward-Looking Statements and Information

Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information may contain statements with the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “budget”, “should”, “project”, “would have realized’, “may have been” or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, the closing of the financing and repayment of CERC’s existing credit facility by April 28, 2017, the closing of the $2.5 million reduction of debt held by Mr. Swanberg and the appointment of two new directors. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties. Although management believes these assumptions are reasonable, there can be no assurance that they will be proved to be correct, and actual results will differ materially from those anticipated. For this purpose, any statements herein that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless it is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

For further information contact:

Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.

Canadian Equipment Rentals Corp. (the “Company”) (TSX VENTURE: CFL) today announced that it has entered into a Sixth Amending Agreement with its senior lenders. This agreement expires on April 28, 2017 and provides the Company additional time to secure a refinancing solution that will result in repayment of the existing amounts due to the senior lenders.

To assist in this effort, the Company has engaged Ernst & Young Orenda Corporate Finance Inc. as exclusive advisor with respect to the process. The scope of the process includes securing replacement financing for the senior lenders and simultaneously exploring alternative strategic options to satisfy both lender demands and maximize shareholder value.

About Canadian Equipment Rentals Corp.

Canadian Equipment Rentals Corp. is a Canadian public corporation and parent company to Zedcor Energy Services Inc. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the symbol “CFL”.

FORWARD-LOOKING STATEMENTS

Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information may contain statements with the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “should”, “project”, “demand”, “may have been” or similar words suggesting future outcomes or expectations. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information based on current expectations, estimates and projections involve a number of assumptions about the future and uncertainties. Although management believes these assumptions are reasonable, there can be no assurance that they will be proved to be correct, and actual results will differ materially from those anticipated. For this purpose, any statements herein that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless it is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

For further information contact:

Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.

Canadian Equipment Rentals Corp. Announces Executive Resignation

CALGARY, ALBERTA – February 13, 2017 – Canadian Equipment Rentals Corp. (“CER” or the “Company”) (TSX VENTURE: CFL) announces that effective February 11, 2017, Mr. Artie Kos has resigned as Chief Executive Officer and Chairman of the Board of CER.

Having led the process of narrowing the focus of the Company to the upstream and midstream energy services industry, by completing the sale of CER’s Waste Management and General Rentals divisions, Mr. Kos has now elected to resign as CEO and as Chairman of CER, although he will continue to serve as a director. The Board of Directors would like to express its appreciation to Mr. Kos for his dedicated service as CEO and Chairman of the Board.

Effective immediately Mr. Brad Munro has assumed the role of Chairman of the Board and as Interim Chief Executive Officer of CER.

About Canadian Equipment Rentals Corp.?

Canadian Equipment Rentals Corp. is a Canadian public corporation and parent company to Zedcor Energy Services Inc. (“Zedcor”). Zedcor is engaged in the rental of surface equipment and accommodations to the Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the symbol “CFL”.

For further information contact:

Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.

Canadian Equipment Rentals Corp. (“CERC” or the “Company”) has entered into an asset purchase agreement with Cooper Rentals Canada Inc. (“Cooper”), to sell all the assets of its wholly-owned subsidiary, 4-Way Equipment Rentals Corp. (“4-Way”), for cash proceeds of $8.5 million.

“This transaction is the next step in strengthening our balance sheet and narrowing the focus of the Company to the upstream and midstream energy services industry,” said Ken Olson, CFO of CERC. “The cash proceeds from the sale will be used to reduce bank indebtedness and provide us with greater re-financing flexibility.” Proceeds from the transaction represent approximately 73% of current tangible asset book value and approximately 5.2x twelve month trailing September 30, 2016 EBITDA.

The transaction, which is expected to close on or around February 9, 2017, is subject to approval by the TSX Venture Exchange and customary closing conditions. CIBC Mid-Market Investment Banking is acting as exclusive financial advisor to CERC with respect to the transaction.

About Canadian Equipment Rentals Corp.

Canadian Equipment Rentals Corp. is a Canadian public corporation with two operating divisions: Energy Services and General Rentals. The Energy Services division is engaged in the rental of surface rentals and accommodations to the Western Canadian Oil and Gas Industry. The General Rentals division is engaged in the rental of industrial and construction equipment. The Company trades on the TSX Venture Exchange under the symbol “CFL”.

About Cooper Rentals Canada Inc.

Cooper Rentals Canada Inc., headquartered in Mississauga, Ontario, is a full-service construction equipment rental company, servicing contractors across Ontario and Quebec. Cooper specializes in the rental of compact, aerial and heavy construction equipment while providing a wide range of related services and supplies.

Forward-Looking Statements and Information

Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information may contain statements with the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “budget”, “should”, “project”, “would have realized’, “may have been” or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, the closing of the sale of 4-Way assets on or around February 9, 2017 and the resultant greater re-financing flexibility. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements because the Company can give no assurance that such statements will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties. Although management believes these assumptions are reasonable, there can be no assurance that they will be proved to be correct, and actual results will differ materially from those anticipated. For this purpose, any statements herein that are not statements of historical fact may be deemed to be forward-looking statements. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless it is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

For further information contact:

Ken Olson
Chief Financial Officer
P: (403) 930-5434
E: kolson@cercorp.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.