03:42 PM EST - Bri-Chem Corp. : announced entering into a letter of intent to acquire 100% of the issued and outstanding shares of an Oklahoma based drilling fluids wholesaler. The business operates as a wholesaler primarily in the State of Oklahoma and the transaction will also include the purchase of certain land and building assets related to their operation. The total purchase price is approximately $2.5 million U.S. which includes a $250,000 U.S. one-year vendor takeback and the issuance of $200,000 U.S. in common shares of Bri-Chem. Subject to receipt of TSX approval, closing is expected to be on or before December 31, 2012. Bri-Chem Corp.
shares T.BRY are trading up $0.03 at $1.99.
