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.
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President and CEO
Telephone: (902) 442-3000