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TORR Canada Inc.

TORR Canada Shareholders Approve Acquisition of Pure Group AS

Montreal, Canada (ots/PRNewswire)

TORR Canada Inc. (TSX: TOR)
("TCI"), dedicated to providing water treatment to the Oil & Gas
industry, today announced that its shareholders overwhelmingly
approved the acquisition of all the shares of Norwegian-based Pure
Group AS, a provider of leading technologies for oil,  gas and water
purification. This acquisition announced on July 30, 2007 will enable
TCI to offer a broader product offering and to access a larger
distribution network.
The purchase price, subject to closing adjustments, will be paid
with CDN$10.9 million in cash, the issuance of 15,419,545 common
shares of TORR,  and the refinancing of an existing loan for
approximately CDN$7.5 million.  The transaction is subject to the
usual conditions (including approval by  the TSX) and is expected to
close before October 31, 2007.
"The completion of this acquisition brings us one step closer to
our goal of becoming a global provider of process solutions for the
upstream oil & gas industry," said Alain Ferland, President and Chief
Executive Officer of TORR Canada. "We believe this acquisition will
quickly bring added value to our customers and our shareholders."
The acquisition was approved this morning at a Special Meeting of
Shareholders by more than 99% of the votes cast by holders of common
shares present at the meeting in person or by proxy.
About TORR Canada Inc.
TCI is dedicated to providing water treatment solutions to the oil
and gas industry. TCI designs, develops, manufactures and
commercializes the TORR(TM) and Reusable Petroleum Absorbent
("RPA(R)") cartridge technologies  to separate oil and water in
produced water generated by oil and gas  production. For more
information, please visit http://www.torrcanada.com.
Caution concerning forward-looking statements
This press release contains forward-looking statements. Such
statements inherently involve numerous risks and uncertainties.
Actual future results  may differ from the anticipated results
expressed in the forward-looking statements contained in this press
release and TCI does not undertake to update this information.
Investors are cautioned against placing undue importance on
forward-looking information contained herein and should  consult the
final short form prospectus and the documents incorporated by
reference therein, which contain a more exhaustive analysis of risks
and  uncertainties connected to TCI's business.

Contact:

For further information: TORR Canada Inc., Jacques L. Drouin, Senior
Vice-President & CFO, +1-514-522-5550, ext. 226,
jdrouin@torrcanada.com; The Equicom Group Inc., Danielle Ste-Marie,
+1-514-844-6064, dste-marie@equicomgroup.com/

Weitere Storys: TORR Canada Inc.
Weitere Storys: TORR Canada Inc.
  • 30.07.2007 – 14:51

    TORR Canada to Acquire Norwegian Based Pure Group

    Montreal, Canada (ots/PRNewswire) - TORR Canada Inc. (TSX: TOR) ("TORR"), dedicated to providing water treatment to the Oil & Gas industry, announces today that it has entered into an agreement with Hitec Vision Private Equity III AS and Statoil Innovation AS to acquire all the shares of Norwegian-based Pure Group AS, a provider of leading technologies for oil, gas and water purification. The purchase price of ...

  • 13.09.2006 – 00:30

    TORR Canada Receives Conditional Approval for Graduation to the Toronto Stock Exchange

    Montreal, Canada (ots/PRNewswire) - TORR Canada Inc. (TSX-V: TOR) ("TCI"), a leader in the extraction of hydrocarbons from produced water, announces today that it has received conditional approval to list its common shares and common share purchase warrants on the Toronto Stock Exchange ("TSX"). TCI's common shares are currently traded on the TSX ...

  • 05.07.2006 – 16:07

    TORR Canada Appoints Senior Vice-President Sales and Business Development

    Montreal, Canada (ots/PRNewswire) - TORR Canada Inc. (TSX-V: TOR) ("TCI"), a leader in the extraction of hydrocarbons from produced water, announced today the appointment of Mr. Ray Cocomello, P. Eng as Senior Vice-President Sales and Business Development. "Mr. Cocomello joins our team to put together a strong worldwide sales network," said Alain Ferland, ...