Press release from CNW Group
Mullen Group Ltd. announces acquisition of common shares of Logan International Inc.
Friday, June 25, 2010
OKOTOKS, AB, June 25 /CNW/ - (TSX - MTL) Mullen Group Ltd. ("Mullen Group") is issuing this press release pursuant to the early warning requirements of applicable securities laws in Canada with respect to Logan International Inc. (the "Issuer").
Mullen Group announced today that it has acquired 1,966,125 shares of the Issuer at an average price of $4.80 per share bringing its and its insiders total holdings in the Issuer to 4,096,125 shares, representing approximately 12.5% of the total issued and outstanding shares of the Issuer. Mr. Murray K. Mullen, the Chairman and Chief Executive Officer and a director of Mullen Group holds, directly and indirectly, 336,200 shares of the Issuer.
The purchase of the 1,966,125 shares by Mullen Group was made through the facilities of the Toronto Stock Exchange for investment purposes. Mullen Group may, from time to time, acquire additional shares of the Issuer, dispose of some or all of the existing or additional shares of the Issuer, or continue to hold the shares of the Issuer in the normal course of Mullen Group's investment activities.
This press release may contain forward-looking statements that are subject to risk factors associated with the oil and natural gas business and the overall economy. Mullen Group believes that the expectations reflected in this press release are reasonable, but results may be affected by a variety of variables. Mullen Group relies on litigation protection for "forward-looking" statements.
Mullen Group is a company that owns a network of independently operated businesses. Today Mullen Group is recognized as the largest provider of specialized transportation and related services to the oil and natural gas industry in western Canada and as one of the leading suppliers of trucking and logistics services in Canada - two sectors of the economy in which Mullen Group has strong business relationships and industry leadership. Mullen Group provides management and financial expertise, technology and systems support to its independent businesses.
Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol "MTL". Additional information is available on our website at www.mullen-group.com.
For further information: Mr. Murray K. Mullen, Chairman and Chief Executive Officer; Mr. Stephen H. Lockwood, President and Co-Chief Executive Officer, 121A, 31 Southridge Drive, Okotoks, Alberta, Canada, T1S 2N3, Tel: (403) 995-5200, Fax: (403) 995-5296