Jul. 2, 2010 (Canada NewsWire Group) --
/NOT FOR DISTRIBUTION TO
TSX: CUQ and SDCThe Churchill Corporation ("Churchill") and Seacliff Construction Corp. ("Seacliff") are pleased to announce that the Competition Bureau has approved the proposed acquisition of Seacliff Construction Corp (TSX: SDC) by Churchill. The approval is evidenced by the receipt of an Advanced Ruling Certificate ("ARC") pursuant to section 102 of the Competition Act.
With the Competition Bureau's approval, the remaining significant conditions to complete the acquisition are Seacliff's shareholder approval and court approval. Seacliff's shareholder meeting is scheduled for
"The Competition Bureau's approval marks a significant transaction milestone of the previously announced acquisition of Seacliff," commented
About The Churchill Corporation
The Churchill Corporation provides building construction, industrial insulation and electrical contracting services throughout Western
About Seacliff Construction Corp.
Seacliff provides general contracting services, electrical contracting and earthmoving services to a wide array of clients in both the public and private sectors, with a majority of its business derived from institutional, commercial, civil and light industrial construction projects. Seacliff is headquartered in
FORWARD LOOKING STATEMENTS
Certain statements in this Press Release may constitute "forward-looking statements". Forward-looking statements include, without limitation, statements regarding the timing of the closing of the Acquisition and the use of proceeds of the Offering associated therewith. Many of these statements can be identified by looking for words such as "believes," "expects," "may," "will," "intends," "anticipates," "estimates," "continues," or the negative thereof, or other variations thereon. Although management of Churchill believes its expectations regarding these statements are based on reasonable assumptions and currently available information, it can give no assurance its expectations will be achieved. The Corporation cautions that, by their nature, forward-looking statements, involve risks, and uncertainties and that its actual actions, and/or results could differ materially from those expressed or implied in such forward-looking statements, and that the aforementioned risks, uncertainties and actions could affect the extent to which a particular projection materializes. The Corporation assumes no obligation to update the forward-looking statements should circumstances or the Corporation's management's estimates or opinions change, except as may be required by law.