Destiny Announces Intent to Acquire Bighorn Land & Field Services and Wolf Surveys.CALGARY, Alberta--(BUSINESS WIRE)--July 13, 1999-- Destiny Resource Services Corp. ("Destiny") announced today that it has entered into a letters of intent to acquire all of the issued and outstanding shares of Bighorn Bighorn, river, United States Bighorn, river, 461 mi (741 km) long, formed in W central Wyo. by the confluence of the Wind and Pop Agie rivers and flowing north to join the Yellowstone River in S Mont. Land & Field Services Ltd. ("Bighorn") and Wolf Survey and Mapping Inc.("Wolf"). In both cases, the letters of intent provide for an effective date of June 1, 1999 and include the provision for employment contracts for key management of Bighorn and Wolf. The acquisition of Bighorn comprises total consideration involving cash, Destiny shares and the assumption of debt. Bighorn is a Calgary based oilfield service company that provides mapping, land permitting and surveying services, primarily to the geophysical and exploration sectors of the oil and gas industry. In 1998 Bighorn achieved annual revenues totaling $3.5 million. The acquisition of Wolf involves consideration that includes the issue of Destiny shares and the assumption of debt. Wolf is a Calgary based surveying and mapping company that provides surveying services to the geophysical sector. In 1998, Wolf achieved annual revenues totaling $2.2 million. Destiny Resource Services Corp. is a Calgary based oilfield service company providing essential integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. to the seismic, exploration and production industries in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the Middle East, Africa and Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the information contained herein. |
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