STRONGCO CORPORATION COMPLETES ARRANGEMENT WITH NORS S.A.

MISSISSAUGA, Ontario, March 18, 2020 (GLOBE NEWSWIRE) -- Strongco Corporation (“Strongco”) (TSX:SQP) announced today that it has completed a previously announced court approved statutory plan of arrangement (the “Arrangement”) pursuant to which a wholly-owned subsidiary of Nors S.A. (“Nors”) acquired all of the issued and outstanding common shares of Strongco (“Strongco Shares”) for cash consideration of CAD$3.15 per Strongco Share, or CAD$42,120,914.85 in the aggregate.

The Strongco Shares are expected to be delisted from the Toronto Stock Exchange effective as of the close of trading on or about March 19, 2020. Strongco has also applied to cease to be a reporting issuer in all provinces of Canada. Further details regarding the Arrangement are included in the proxy circular of Strongco dated February 11, 2020, a copy of which is available under Strongco’s issuer profile on SEDAR at www.sedar.com.

About Nors

Following completion of the Arrangement, Strongco is expected to carry on its existing business activities as an indirect, wholly-owned subsidiary of Nors. Nors is a multi-line distributor of equipment used in diverse industries, including commercial, construction, environmental, and agriculture. The registered and head office of Nors is located at Rua Manuel Pinto de Azevedo, 711, 1º, 4149-010 Porto, Portugal. A copy of Nors’ early warning report will appear on Strongco’s profile on SEDAR at www.sedar.com and may also be obtained by contacting Luísa Neto at [phone].

About Strongco

Strongco Corporation is a major multiline mobile equipment dealer with operations across Canada. Strongco sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. The Company has approximately 500 employees serving customers from 26 branches in Canada. Strongco represents leading equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Manitowoc Crane, including National and Grove, Terex Cedarapids, Terex Trucks, Fassi, Sennebogen, Konecranes and SDLG. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.