Press release from CNW Group
MULLEN GROUP LTD. ANNOUNCES ADDITIONAL ACQUISITION OF COMMON SHARES OF LOGAN INTERNATIONAL INC.
Friday, December 10, 2010
OKOTOKS, AB, Dec. 10 /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 an additional 794,000 shares of the Issuer at a price of $5.25 per share bringing its and its insiders total holdings in the Issuer to 4,890,125 shares, representing approximately 14.7% of the total issued and outstanding shares of the Issuer.
The purchase of the shares 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.
Mullen Group is a company that owns a network of independently operated businesses. Today the 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