Enterprise Group, Inc. announces closing of $27.6 million bought deal equity financing including exercise in full of over-allotment option


ST. ALBERT, AB, March 25, 2014 /CNW/ - Enterprise Group, Inc. ("Enterprise" or the "Company") (TSX:E) is pleased to announce that it has closed its previously announced bought deal equity financing of 27,600,000 common shares ("Common Shares") of the Company, which includes 3,600,000 Common Shares issued pursuant to the exercise in full of the over-allotment option, at a price of $1.00 per Common Share for aggregate gross proceeds of $27,600,000 (the "Financing"). The Financing was underwritten by a syndicate of underwriters led by Canaccord Genuity Corp. and GMP Securities L.P. and included Jennings Capital Inc., PI Financial Corp. and Salman Partners Inc.

The net proceeds from the Financing will be used to accelerate the Company's capital expenditure program, as well as for general working capital purposes.

The Common Shares have not been, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from such registration requirements. This press release does not constitute an offer for sale or the solicitation of an offer to buy Common Shares in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Enterprise Group, Inc.
Enterprise Group, Inc. is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries. The Company's focus is primarily construction services and specialized equipment rental. The Company's strategy is to acquire complementary service companies in Western Canada, consolidating capital, management and human resources to support continued growth. Enterprise became a Western Canadian leader in flameless heat technology in September 2012 with its acquisition of Artic Therm International Ltd., a leader in underground infrastructure construction in June 2013 with the acquisition of Calgary Tunnelling & Horizontal Augering Ltd., and a leader in oilfield service rentals in January 2014 with the acquisition of Hart Oilfield Rentals Ltd.

Forward Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.  In particular, forward-looking statements contained in this press release include, but are not limited to the anticipated use of net proceeds of the Financing. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, competition, stock market volatility and the ability to access sufficient capital.  Actual future results may differ materially. The Company's annual information form for the year ended December 31, 2012 and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

SOURCE: Enterprise Group, Inc.

For further information:

Leonard D. Jaroszuk - President & CEO, or
Desmond O'Kell - Senior Vice President
PH: 780-418-4400
E: contact@EnterpriseGRP.ca
Web: www.EnterpriseGRP.ca

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Enterprise Group, Inc.

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