|July 25, 2011|
Energold Drilling Corp. Announces Closing Of Acquisition Of Bertram International Corp.
|Energold Drilling Corp. (EGD: TSX.V) ("Energold" or "the Company") is pleased to announce that it has closed the definitive strategic acquisition agreement announced June 22, 2011 (see press release dated June 22, 2011) with Bertram International Corporation ("Bertram") whereby Energold has agreed to acquire all the outstanding shares of Bertram for total consideration of $15 million and assume long term debt and lease obligations of approximately $3 million as of June 30, 2011. |
Based in Carbon, Alberta, Canada, Bertram is a diversified specialty drilling company, servicing the energy sector in Canada and the U.S. Bertram has a current inventory of 119 rigs specially designed for oil sands coring, shot hole seismic and geothermal drilling services markets. Bertram also provides diamond and pipeline drilling services.
The Oil & Gas markets serviced by Bertram continue to show growing signs of improved demand and Energold looks forward to working with Bertram to fully capitalize on its opportunities and provide additional avenues for expansion, both domestically and internationally.
Energold Drilling Corp. is an environmentally- and socially-sensitive diamond drilling company that services the international mining industry. Energold holds 7 million shares of IMPACT Silver Corp.
On behalf of the Directors of Energold Drilling Corp.
"Frederick W. Davidson"
For further information, please contact:
Sunny Pannu - Investor Relations
(604) 681 9501 or via email at firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, prepayment and repayment of the CDs, proposed use of net proceeds, proposed acquisitions by the Company and capital commitments related to the expansion of the Company's core mineral drilling services business, and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the effects of general economic conditions, a reduction in the demand for the Company's drilling services, the price of commodities, changing foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures. Energold Drilling Corp. does not assume the obligation to update any forward-looking statement unless required by law.
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