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ENTREC Corporation Completes Sale of Surplus Equipment

ACHESON, Alberta, May 08, 2020 (GLOBE NEWSWIRE) -- ENTREC Corporation (“ENTREC” or the “Company”) announced today that it has completed the sale of surplus equipment to Ritchie Bros. Auctioneers (Canada) Ltd. The total proceeds from the sale was $17.7 million. The majority of the surplus equipment sold was associated with the Company’s Acheson location, which was closed in March 2020. The proceeds from the sale were utilized to reduce long-term debt.

About ENTREC

ENTREC is a heavy haul transportation and crane solutions provider to the oil and natural gas, construction, petrochemical, mining and power generation industries. ENTREC is listed on the Toronto Stock Exchange under the symbol ENT.

For further information, please contact: 

John M. Stevens - President & CEO
Telephone: (780) 960-5625

Jason Vandenberg – CFO
Telephone: (780) 960-5630