Canadian Rental Service

News
Strongco completes rights offering

Feb. 1, 2011 –  Strongco Corporation has announced the completion of its previously announced rights offering for aggregate gross proceeds of $7.86 million. The offering was fully subscribed, with a total of 9,941,964 rights being exercised for 2,485,491 common shares and 134,419 common shares being issued pursuant to the additional subscription privilege. Strongco Corporation is one of Canada's largest multiline mobile equipment dealers. Strongco sells, rents and services equipment used in sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. The company has over 500 employees in 26 branches across Canada.


February 1, 2011
By

Feb. 1, 2011 –  Strongco Corporation has announced the completion of its previously announced rights offering for aggregate gross proceeds of $7.86 million. The offering was fully subscribed, with a total of 9,941,964 rights being exercised for 2,485,491 common shares and 134,419 common shares being issued pursuant to the additional subscription privilege.

Strongco Corporation is one of Canada's largest multiline mobile equipment dealers. Strongco sells, rents and services equipment used in sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. The company has over 500 employees in 26 branches across Canada.

"Our objective with the rights offering was to provide funding for growth initiatives," said Robert Dryburgh, President and Chief Executive Officer. "We are very pleased that our shareholders have responded so positively to this offering, which, including the additional subscription privilege, was substantially oversubscribed."

Each common share was issued at a price of $3.00. The Corporation now has 13,128,629 common shares issued and outstanding.

For more information, please www.strongco.com.