Acquisition of Canadian Equipment Rentals Corp. Common Shares by Dean Swanberg Through D.S.S. Holdings Inc.
Pursuant to the early warning requirements of applicable Canadian securities laws, Mr. Dean Swanberg reports that, on April 28, 2017, he acquired, through a wholly owned corporation D.S.S. Holdings Inc. ("D.S.S."), indirect ownership and control over 10,000,000 common shares ("Common Shares") of Canadian Equipment Rentals Corp. (the "Issuer"). The arm's length transaction (the "Transaction") was carried out under an agreement between the Issuer and D.S.S. dated April 27, 2017, whereby D.S.S. agreed to subscribe for 10,000,000 Common Shares for an aggregate subscription price of $2,500,000 payable through the set off and exchange of $2,500,000 principal amount of debt owing by the Issuer to D.S.S.
Prior to the Transaction, Mr. Swanberg owned or controlled, directly or indirectly, 1,287,197 Common Shares, representing approximately 3.12% of the then issued and outstanding Common Shares.
Immediately after the completion of the Transaction, Mr. Swanberg, beneficially owned or controlled, directly or indirectly, 11,287,197 Common Shares, representing approximately 22.05% of the issued and outstanding Common Shares.
Mr. Swanberg acquired the Common Shares for investment purposes and may, in the future, increase or decrease their ownership of securities of the Issuer, directly or indirectly, from time to time depending upon, among other things, the business and prospects of the Issuer and future market conditions.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.