CALGARY, May 4 /CNW/ - Enerchem International Inc. ("Enerchem" or the "Corporation") announces that on Monday, May 3, 2010 Trinity Capital Partners Ltd. mailed a Take-Over Bid Circular and Offer to shareholders of Enerchem, in connection with the previously announced offer to purchase all of the common shares of Enerchem for a price of $2.75 in cash per share (the "Offer"). The take-over bid expires at 3:00 p.m. (Calgary time) on June 8, 2010, unless withdrawn or extended.
The Board of Directors of Enerchem have concurrently mailed a Directors' Circular with respect to the Offer recommending that shareholders tender their common shares to the Offer. Both the Take-over Bid Circular and Offer and the Directors' Circular have been filed with Canadian securities regulatory authorities.
Shareholders of Enerchem and other investors are urged to read the Take-over Bid Circular and the related Directors' Circular. These documents, as well as any amendments and supplements to them and any other relevant document filed or to be filed with Canadian securities regulatory authorities contain important information.
All of the directors and officers and certain shareholders of Enerchem, collectively holding approximately 43.4% of the issued and outstanding common shares (on a fully-diluted basis), have entered into agreements to tender all of their common shares to the Offer, except in certain limited circumstances.
Enerchem treats, manufactures and distributes hydrocarbon drilling, fracturing, and solvent fluids designed to facilitate and enhance the production of upstream oil and gas companies. The Corporation is also engaged in energy marketing and, through its wholly-owned subsidiary Corporation, Millard Trucking Ltd., provides fluid transportation and other related oilfield services. The Corporation's common shares trade on the Toronto Stock Exchange under the symbol "ECH".
SOURCE ENERCHEM INTERNATIONAL INC.
For further information: For further information: Kenneth M. Bagan, President and Chief Executive Officer, Telephone: (403) 269-1500, Fax: (403) 269-1559, Email: email@example.com; Kim R. Hubick, Vice-President Finance & CFO, Telephone: (403) 269-1500, Fax: (403) 269-1559, Email: firstname.lastname@example.org