MELFORT, SK, March 10, 2015 /CNW/ - Hodgins Auctioneers Inc. (HA-TSX.V) ("HAI") is pleased to announce a strategic alliance arrangement with Aero Auctions Sales Inc. ("Aero"), headquartered in Oro-Medonte, Ontario. Aero and HAI will join forces to conduct national online only auctions of agricultural equipment. HAI also wishes to announce that the companies will be examining a possible business combination. No business combination agreement has been reached or executed. There is no assurance that any arrangement will be reached. Any arrangement would require approval by the TSX Venture Exchange and shareholder approval.
Grant Hodgins, CEO of HAI stated "Networking and partnering up of auctions has become very common in our industry and can only serve to enhance the service provided to both buyers and sellers."
Aero is a 25 year old growth oriented auction company specializing in the sale of heavy construction equipment, and marine/recreational products, historically located in the provinces of Ontario and Quebec, Aero has recently opened offices in the Province of Alberta. Aero brings a young, dynamic sales and marketing force that will aggressively pursue auction opportunities in the lucrative equipment auction market in Western Canada.
Mike Dunns, CEO and President of Aero stated. "Following our successful fall 2014 Heavy Equipment Auction in Edmonton, Alberta we met with senior executives of HAI with a view to expediting our growth in Western Canada, specifically in the growing "Online only Agricultural Equipment Marketplace". This as a win/win course of action for Aero, HAI and most importantly our buyers and sellers."
About Hodgins Auctioneers Inc.
Headquartered in Melfort, Saskatchewan for more than 50 years, Hodgins Auctioneers is a provider of professional auction services. Hodgins is renowned for its experienced Auctioneers, award-winning promotions, dependable results and commitment to providing the ultimate marketplace for the sale of assets by auction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Hodgins Auctioneers Inc.
For further information: Grant Hodgins, CEO, Hodgins Auctioneers Inc., Tel: 1-800-667-2075, Fax: (306) 752-5702, Email: [email protected], Website: www.hodginsauctioneers.com, http://www.hodginsauctioneers.com/