Enterprise Group Announces Agreement to Expand and Further Develop Its Business in Collaboration with Treaty 8 First Nation and Its Economic Development Entity
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St. Albert, Alberta--(Newsfile Corp. - April 16, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (hereinafter referred to as "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) emissions for small local and Tier One resource clients, announces a Memorandum of Understanding (MOU) outlining a business relationship within the Treaty 8 Territory.
Evolution Power Projects Inc. (hereinafter referred to as "Company"), a wholly owned subsidiary of Enterprise, a leading provider of mobile low emission power solutions, and associated site infrastructure, and an Economic Development Company (hereinafter referred to as "Development Co"), a subsidiary of a prominent Treaty 8 First Nation, have entered into an MOU to collaborate on various projects and opportunities within the Treaty 8 Territory.
The Development Co is focused on creating economic benefits in balance with the Nation's traditional practices, culture and commitment to environmental stewardship. Evolution Power Projects is emerging as the leader in off grid remote power generation in BC and AB, providing oil and gas well site electrification amongst major producers. The shared environmental directive and commitment to technological advancement, emission reduction, fossil fuel alternatives and industry progress make this strategic partnership an opportunity for great advancement and success.
This First Nation, and by extension the Development Co, possess a rich history and profound connection to their land, they are dedicated to protecting the environment and fostering sustainable practices. The leadership of the Development Co stands as a testament to Indigenous entrepreneurship and the power of aligning economic activities with cultural and environmental values.
The MOU, effective as of April 1, 2024, outlines the intentions and understanding between the two parties to work together in the pursuit of business opportunities and the provision of services. Operating in the natural gas rich areas atop the Montney Formation, Enterprise Group Inc continues to expand and pursue opportunities in Northeastern BC and Northwestern Alberta, where economic activity is plentiful. Partnerships and strategic alliances, like this one, play a vital role in our expansion plan. It is our intention to create value for local communities, partners and shareholders alike.
"This partnership marks an important step towards fostering collaboration and economic development within the Treaty 8 Territory," said Heather Johnston, President of Evolution Power Projects Inc. "We are excited to combine our expertise with the First Nation's local insights to deliver innovative solutions and create shared value for our clients and communities."
Ms. Johnston adds: "We are proud that the Development Co has selected our team to work alongside and recognizes that Evolution is a leading provider of low emission electrification systems providing customers with solutions and technology to assist with achieving ESG targets throughout their territory."
About Enterprise Group, Inc.
Enterprise Group, Inc (TSX: ETO) (OTCQB: ETOLF) is a consolidator of services-including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available at the Company's website www.enterprisegrp.ca. Corporate filings can be found on www.sedarplus.com. For questions or additional information, please contact:
Leonard Jaroszuk: President & CEO, or
Desmond O'Kell: Senior Vice-President
780-418-4400
Forward-Looking Information This news release may contain certain forward-looking information, as defined under applicable Canadian securities legislation, that is not based on historical fact, including without limitation statements containing the words "believes," "anticipates," "plans," "intends," "will," "should," "expects," "continue," "estimate," "forecasts" and other similar expressions. In particular, this news release includes forward-looking information relating to the Facility and the Company's intention to pursue acquisition opportunities and to purchase shares pursuant to the normal course issuer bid. Actual results, events, or developments could be materially different from those expressed or implied by these forward-looking statements. There is no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in the Company's Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedarplus.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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