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."
About Clarke
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.
Forward-Looking Statements
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 forward-looking statements.
For further information:
Rob Normandeau
President and CEO
Clarke Inc.
Telephone: (902) 442-3000
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