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Purchaser Cancels Agreement to Acquire Building

^{Published on 2009-12-31 15:05:17 - Market Wire}
 

ST. JOHN'S, Dec. 31 /CNW/ - Today, Rutter Inc. (TSX: RUT) announced the termination by the purchaser of an agreement for the sale of its Brookfield Road office building, as announced in a press release on November 27, 2009. The original agreement was subject to financing which the purchaser has now formally advised it has been unable to secure. Rutter will continue to review the options to sell or refinance the building as part of its overall strategy to reduce debt.

About Rutter Inc. - Rutter is an enterprise focused on providing innovative technologies and engineering solutions. Rutter's global network supplies technologies to improve efficiency and safety in the marine, defense, transportation, oil and gas sectors from its headquarters in the Province of Newfoundland and Labrador. Multidisciplinary consulting engineering services including civil, structural, mechanical and electrical engineering (other than automation engineering) as well as environmental and construction management services are provided to a diverse client base which includes all levels of government and the oil and gas and industrial sectors. For more information see [ www.rutter.ca ]

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements reflect current expectations and are subject to a number of risks and uncertainties including but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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