01:49:53 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Pure Technologies Ltd
Symbol PUR
Shares Issued 51,847,237
Close 2014-09-30 C$ 8.08
Market Cap C$ 418,925,675
Recent Sedar Documents

Pure Tech closes acquisition of Hunter McDonnell assets

2014-10-01 11:50 ET - News Release

Mr. Jack Elliott reports

PURE TECHNOLOGIES CLOSES ACQUISITION OF HUNTER MCDONNELL PIPELINE SERVICES

Pure Technologies Ltd. has closed its previously announced acquisition of the oil and gas pipeline inspection service business and related assets of Hunter McDonnell Pipeline Services Inc. and its affiliated companies, a leading provider of technology-driven integrity services to the oil and gas pipeline industry.

"We are pleased to complete this milestone transaction, and we warmly welcome the more than 60 new employees to the Pure family," said Jack Elliott, president and chief executive officer of Pure. "Through our combined entity, PureHM Inc., we now have a direct presence in key markets including Alberta, California and Texas, and we are poised to provide unparalleled services and value to our oil and gas pipeline customers while creating further growth opportunities for the company as a whole."

As stated within the company's news release dated Sept. 12, 2014, the purchase price was $8-million, consisting of $6-million in cash and $2-million in common shares of Pure, issuable in equal tranches on each of the first, second and third anniversaries of the closing date of the transaction.

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