DRILLING COMPANY NEWS Major Buys Raematt Assets

NEW BRUNSWICK Moncton-based MAJOR DRILLING GROUP INTERNATIONAL has purchased the assets of RAEMATT DRILLING. Raematt is an underground drilling contractor based in Victoria, Australia. The purchase, effected by subsidiary MAJOR PONTIL, brings specialized underground drill rigs, supporting equipment and inventory, plus highly skilled drill crews into the Major fold.

In this transaction, contracts valued in excess of $14 million have been taken over by Major. The purchase price for the transaction was A$5 million plus the assumption of some A$1.75 million in equipment leases.

Details of Major Drilling's specialized services are available at www.MajorDrilling.com.