EDMONTON, July 7, 2014 /CNW/ - McCoy Global ("McCoy" or "the Company") (TSX:MCB; OTCQX:MCCRF), today announced that it has officially changed its name to McCoy Global Inc.
"This name change is a reflection of the Company's growing international presence in the global energy industry, a key element of our growth strategy," said Jim Rakievich, President and CEO.
Commencing at opening of trading on Thursday, July 10, 2014, the common shares of the Company will trade on the Toronto Stock Exchange under the new name "McCoy Global Inc.", with the current trading symbol of "MCB" remaining as the trading symbol.
McCoy, a leading developer of advanced tubular products and solutions for the global energy industry, has been strategically establishing operations in key areas of exploration and production to better service its onshore and offshore customers. In 2013, McCoy opened international locations in Singapore and Aberdeen, Scotland to support the Asia Pacific region and the North Sea region as well as Europe, respectively. The Company is in the process of opening additional locations in the Middle East and Latin America.
McCoy provides innovative products and services to the global energy industry. McCoy Global operates internationally through direct sales and distributors with its operations based out of Western Canada, the U.S. Gulf Coast, Europe and Asia-Pacific. McCoy Global's corporate office is located in Edmonton, Alberta, Canada with offices in Alberta, Louisiana, Texas, Aberdeen, Singapore and Luxembourg.
This News Release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by McCoy, including expectations and assumptions concerning fluctuations in the level of oil and gas industry capital expenditures, McCoy's ability to integrate acquired businesses and complete strategic acquisitions of additional businesses and other factors that affect demand for McCoy's products. Although McCoy believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because McCoy can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause McCoy's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, fluctuations in oil and gas prices, fluctuations in the level of oil and gas industry capital expenditures and other factors that affect demand for McCoy's products, industry competition, the need to effectively integrate acquired businesses, uncertainties as to McCoy's ability to implement its business strategy effectively in Canada and the United states, labour, equipment and material costs, access to capital markets, interest and McCoy's ability to attract and retain key personnel. Additional information on these and other factors is available in continuous disclosure materials filed by McCoy with Canadian securities regulators. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this News Release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. McCoy undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: McCoy Corporation
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