Trio Merger Corp. Completes Merger with SAExploration Holdings Inc.
June 24 2013 - 12:05PM
Business Wire
Trio Merger Corp. (NASDAQ: TRIO; OTCBB: TMRGW)(“Trio”) today
announced the completion of its merger with SAExploration Holdings,
Inc. (“SAE” or the “Company”), following the receipt of stockholder
approval on June 21, 2013.
In connection with the consummation of the merger, Trio changed
its name to SAExploration Holdings, Inc. As previously disclosed in
the Company’s filings with the Securities and Exchange Commission,
the Company intends to commence an exchange offer for its
outstanding warrants as soon as practicable.
Brian Beatty, President and CEO of SAE, commented, “We
appreciate the support of Trio’s stockholders and look forward to
SAE’s future as a public company. Since our founding in 2006, we
have grown to become one of the largest international seismic data
acquisition companies in the world. We are excited about our growth
opportunities, and will use the elevated profile we expect from our
NASDAQ listing and public currency to further expand our industry
presence and enhance long-term value for our stockholders.”
Eric Rosenfeld, Chairman and CEO of Trio and a board member of
SAE following the consummation of the merger, said, “We are pleased
and excited to have completed a merger with such a high-quality
company. I believe that SAE is uniquely-positioned in the seismic
data industry, given its expertise in and reputation for operating
in logistically complex and challenging environments, its strong
quality, health, safety and environmental record and its
competencies in transportation, lodging and community relations. I
look forward to serving as a Director of the Company to support its
growth objectives.”
About SAExploration Holdings,
Inc.
SAE is a holding company of various subsidiaries which
cumulatively form a geographically diversified seismic data
acquisition company. SAE provides a full range of 2D, 3D and 4D
seismic data services to its clients, including surveying, program
design, logistical support, data acquisition, processing, camp
services, catering, environmental assessment and community
relations. The Company services its multinational client base from
offices in Canada, Alaska, Peru, Colombia, Bolivia, Papua New
Guinea, New Zealand and Brazil. SAE’s website is
www.saexploration.com.
Forward Looking
Statements
This press release includes certain forward-looking statements,
including statements regarding future financial performance, future
growth and future acquisitions. These statements are based on
management’s current expectations or beliefs and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from those expressed or implied by the statements herein
due to changes in economic, business, competitive and/or regulatory
factors, and other risks and uncertainties affecting the operation
of SAE’s business. These risks, uncertainties and contingencies
include: fluctuations in the levels of exploration and development
activity in the oil and gas industry; business conditions; weather
and natural disasters; changing interpretations of GAAP; outcomes
of government reviews; inquiries and investigations and related
litigation; continued compliance with government regulations;
legislation or regulatory environments; requirements or changes
adversely affecting the business in which SAE is engaged;
fluctuations in customer demand; changes in scope or schedule of
customer projects; termination of contracts at the convenience of
clients; management of rapid growth; intensity of competition from
other providers of seismic acquisition services; general economic
conditions; geopolitical events and regulatory changes; and other
factors set forth in the Company’s filings with the Securities and
Exchange Commission. The information set forth herein should be
read in light of such risks. The Company is under no obligation to,
and expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise.
SAExploration Holdings, Inc.Jeff Hastings, Chairman,
403-776-1950orBrian Beatty, Chief Executive Officer and President,
403-776-1950orINVESTOR RELATIONS:The Equity Group
Inc.Devin Sullivan, Senior Vice President,
212-836-9608dsullivan@equityny.comorThomas Mei, Associate,
212-836-9614tmei@equityny.com
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