SYLVAN LAKE, ALBERTA–(Marketwired – July 12, 2017) – Lonestar West Inc. (TSX VENTURE:LSI) (the “Company” and/or “Lonestar“) is pleased to announce the approval by Lonestar’s shareholders, at a special meeting of shareholders held today (the “Meeting“), of the previously announced transaction with Clean Harbors, Inc. (NYSE:CLH) (“Clean Harbors“), whereby Clean Harbors, through an indirect wholly-owned subsidiary, will acquire 100% of Lonestar’s issued and outstanding common shares (“Lonestar Shares“) for C$0.72 per Lonestar Share, including Lonestar Shares issuable upon the exercise of outstanding options (the “Acquisition“). The Acquisition is scheduled to close on July 14, 2017.
At the Meeting, approximately 99.9% of the votes cast by Lonestar shareholders were voted in favour of the Acquisition. A total of 18,611,603 Lonestar Shares, representing approximately 63.2% of the issued and outstanding Lonestar Shares, were voted at the Meeting and each of the directors and officers of Lonestar and certain other principal shareholders, collectively holding approximately 35.7% of the issued and outstanding Lonestar Shares, voted their Lonestar Shares in favor of the Acquisition.
Based in Sylvan Lake, Alberta, Lonestar West Inc. operates a fleet of 136 Hydrovac, Vacuum and Auxiliary units throughout Western Canada, Ontario, California, and the southern United States. It is focused on profitably growing its HVAC services to become a major competitor in the North American market. For more information please visit the Company’s website at www.lonestarwest.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Lonestar West Inc.
President & CEO