HALIFAX, Feb. 2, 2012 /CNW/ - Clarke Inc. ("Clarke" or the "Company")
(TSX: CKI CKI.DB CKI.DB.A) today announced that it has invested
$9,000,000 in Highkelly Drilling Ltd. ("Highkelly"). It is expected
Clarke will own approximately 38% of the outstanding shares of
Highkelly on closing of the financing.
Highkelly is a newly formed contract drilling company based in Calgary,
Alberta that has entered into a strategic partnership with a Calgary
based oilfield equipment manufacturer with facilities in China and has
secured three year drilling contracts with a senior natural gas
producer for the use of two drilling rigs. Pat Powell, Chairman of
Bonnett's Energy Services Corp. (TSX: BT) and a member of Clarke's
Board of Directors, will be the Chairman & CEO of Highkelly. Clarke's
Vice President Investments Matthew Towns will also join the Board of
Directors of Highkelly.
Rob Normandeau, President and CEO of Clarke commented "We are pleased to
be able to partner with a strong, experienced management team to make
this investment in one of our identified core areas."
Halifax-based Clarke Inc. invests in undervalued businesses and
participates actively where necessary to enhance performance and
increase return. Clarke's securities trade on the Toronto Stock
Exchange (CKI, CKI.DB; CKI.DB.A); for more information about Clarke
Inc., please visit our website at www.clarkeinc.com.
This press release may contain or refer to certain forward-looking
statements relating, but not limited to, Clarke's expectations,
intentions, plans and beliefs with respect to Clarke. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "does not expect", "is expected",
"budget", "estimates", "forecasts", "intends", "anticipates" or "does
not anticipate", or "believes", or equivalents or variations, including
negative variations, of such words and phrases, or state that certain
actions, events or results, "may", "could", "would", "should", "might"
or "will" be taken, occur or be achieved. These forward-looking
statements include, but are not limited to, statements regarding the
trading price of the Company's securities not fully reflecting the
value of the Company's business.
Forward-looking statements rely on certain underlying assumptions that,
if not realized, can result in such forward-looking statements not
being achieved. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause the actual
results of Clarke to be materially different from the historical
results or from any future results expressed or implied by such
forward-looking statements. Risks and uncertainties include, among
others, the Company's investment strategy, legal and regulatory risks,
general market risk, potential lack of diversification in the Company's
investments, and interest rates and foreign currency fluctuations. Although Clarke has attempted to identify important factors that could
cause actual actions, events or results or cause actions, events or
results not to be estimated or intended, there can be no assurance that
forward-looking statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Other than as required by applicable Canadian
securities laws, Clarke does not update or revise any such
forward-looking statements to reflect events or circumstances after the
date of this document or to reflect the occurrence of unanticipated
events. Accordingly, readers should not place undue reliance on
SOURCE CLARKE INC.
For further information:
President and CEO
Telephone: (902) 442-3000