CORDY OILFIELD SERVICES INC. COMPLETES PREVIOUSLY ANNOUNCED PURCHASE OF THE BUSINESS AND ASSETS OF PLATINUM NORTH RESOURCES LTD. AND HEART RIVER HOLDINGS (2011) LTD.
CALGARY, Alberta, March 18, 2020 (GLOBE NEWSWIRE) — Cordy Oilfield Services Inc. (“Cordy” or the “Company”) (TSX VENTURE: CKK) is pleased to announce that, further to its March 10, 2020 news release, it has completed its acquisition of the assets and business of Platinum North Resources Ltd. (“Platinum North”) and Heart River Holdings (2011) Ltd. (the “Acquisition”)
Cordy is pleased to confirm the appointment of Craig Heitrich as Vice President and Chief Operating Officer. Craig was most recently the President and Chief Executive Officer of Platinum North and brings with him a depth of experience and customer relationships. Despite the challenging times in the market and in our communities today, Cordy remains excited that in completing the Acquisition we have expanded our reach and capacity and further advanced our platform for delivering high quality, responsive environmental stewardship.In addition, the Company will proceed with the consolidation of its issued and outstanding Common Shares, previously approved by Shareholders, on the basis of one (1) post-consolidation Common Share for five (5) pre-consolidation Common Shares. The consolidation is subject to acceptance by the TSX Venture Exchange and Shareholders will receive further communication and instructions in due course.Additional information on Cordy is available on our website www.cordy.ca or on SEDAR at www.sedar.com.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.