CALGARY, Oct. 28 /CNW/ - ARC Energy Fund 6 Canadian Limited Partnership, ARC Energy Fund 6 United States Limited Partnership, ARC Energy Fund 6 International Limited Partnership and ARC Capital 6 Limited Partnership (collectively "ARC Energy Fund 6") of Calgary, Alberta announced that they have acquired an aggregate of 15,000,000 common shares ("Common Shares") of Canyon Services Group Inc. ("Canyon") at a price of $2.00 per Common Share as part of a previously announced private placement of Canyon. The Common Shares were acquired for investment purposes under the accredited investor exemption of National Instrument 45-106.
As a result, the limited partnerships comprising ARC Energy Fund 6 now exercise control or direction over 15,000,000 Common Shares, representing approximately 31.8% of the issued and outstanding Common Shares.
ARC Energy Fund 6 is a fund specializing in the energy sector, and is part of the ARC Financial group. Although ARC Energy Fund 6 may make further purchases of common shares of Canyon through private purchases or through the facilities of the Toronto Stock Exchange, such purchases will be made for investment purposes.
This press release has been issued in order to comply with applicable securities legislation.
SOURCE ARC Energy Fund 6
For further information: For further information: or a copy of the securities report contact: Lauchlan Currie, President, ARC Equity Management (Fund 6) Ltd., 4300, 400 - 3rd Avenue S.W., Calgary, Alberta, Telephone: (403) 292-0680, Fax: (403) 292-0579