CERF and Winalta announce proposed strategic business combination to create a leading oilfield rentals provider

On August 27, 2014, Winalta Inc. (Winalta) and CERF Incorporated (CERF) completed the previously announced plan of arrangement combining CERF's oilfield rentals business, waste management, and construction rentals businesses with Winalta's oilfield accommodation rentals business.

Pursuant to the agreement, dated June 26, 2014, the combination was effected by way of a plan of arrangement under the Business Corporations Act (Alberta) whereby Winalta shareholders will receive 0.3352 of a common share of CERF for each Winalta common share held resulting in approximately 14,456,717 CERF common shares being issued.

The combined company will operate under the name CERF and continue to trade on the TSX Venture Exchange.

Winalta specializes in the rental of innovative and high-quality modular buildings for the western Canadian oil and gas industry.

CERF is a Canadian public corporation engaged in the rental, sale and service of industrial and construction equipment and waste management and environmental services.

Further information can be found on Stockwatch's website.