Cooper Rentals Canada Inc. entered into an asset purchase agreement to acquire 4-Way Equipment Rentals Corp. from Canadian Equipment Rentals Corp. (TSXV:CFL) for CAD 8.5 million on January 31, 2017. The closing of the transaction is subject to approval by the TSX Venture Exchange and customary closing conditions. Transaction is expected to close on or around February 9, 2017. The cash proceeds from the sale will be used by Canadian Equipment Rentals Corp. to reduce bank indebtedness and provide greater re-financing flexibility. Canadian Imperial Bank of Commerce (TSX:CM) acted as the financial advisor to Canadian Equipment Rentals Corp. Gowling Wlg (Canada) LLP acted as the legal advisor for Canadian Equipment Rentals Corp. William Guinan, Kevin Keys, Scott Robson of Borden Ladner Gervais LLP acted as a legal advisor to Canadian Equipment Rentals Corp. in this transaction.