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Edmonton, Alberta–(Newsfile Corp. – December 07, 2022) – Bri-Chem Corp. (TSX: BRI) (“Bri-Chem” or the “Company”), a leading North American oilfield chemical distribution and blending company, is pleased to announce that it has acquired a strategically located warehouse in Midland, Texas.
Bri-Chem’s new warehouse spans 7,500 square feet on a 5.29 acre lot that was financed through an extension of our existing mortgage facilities from Canada Western Bank. This acquisition serves as a strategic anchor location for our US operations as Midland, Texas is the primary service point for the Permian Basin which continues to be one of our fastest growing regions. The size and scope of this new facility will provide additional bulk storage and blending capabilities as we continue to invest in our infrastructure.
About Bri-Chem
Bri-Chem has established itself, through a combination of strategic acquisitions and organic growth, as the North American industry leader in the wholesale distribution and blending of chemical fluids for oilfield drilling, completion, stimulation and production. We sell, blend, package and distribute a complete line of drilling products from 26 strategically located warehouses across Canada and the United States. Additional information about Bri-Chem is available at www.sedar.com or on Bri-Chem’s website at www.brichem.com.
To receive news about Bri-Chem, send your email to ir@brichem.com.
For further information please contact:
Tony Pagnucco CPA, California
Bri-Chem Corp.
CFO
T: (780) 571-8587
E: tpagnucco@brichem.com
Forward-looking statements
Certain statements contained in this press release constitute forward-looking information or forward-looking statements (collectively, “forward-looking statements”). These statements relate to future events or future performance. The use of any of the words “could,” “intend,” “expect,” “believe,” “will,” “anticipated,” “estimated” and similar expressions and statements in connection with matters other than historical facts are intended to identify forward-looking statements are based on the Company’s current belief or assumptions about the outcome and timing of such future events. Actual future results may differ materially.
Although the Company believes that the expectations and assumptions underlying such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that they will prove to be correct. By their nature, such forward-looking statements are subject to various risks and uncertainties, which could cause actual results to differ materially from the anticipated results or expectations expressed herein. These risks and uncertainties include, but are not limited to, general economic conditions, prevailing and anticipated industry conditions, access to debt and equity financing on acceptable terms, commodity price levels and volatility, sustained demand for drilling fluids, market forces, the ability to to achieve geographic expansion through new warehouse locations, the expected impact of new warehouse locations, the ability to procure equipment from suppliers, the ability to maintain bargaining power with suppliers and customers, the ability to acquire and retain qualified personnel, competition from other industry participants and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, whether as of the date expressed in this press release or otherwise. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
NOT FOR DISTRIBUTION IN THE US NEWS SERVICE OR FOR DISSEMINATION IN THE USA
To view the original version of this press release, visit https://www.nevsfilecorp.com/release/147138
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