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CALGARY, ALBERTA--(Marketwired - Oct. 18, 2016) - Logan International Inc. ("Logan") (TSX:LII) today announced that it has completed the sale of all of the outstanding shares of its subsidiaries, Logan SuperAbrasives Inc. and Logan Completion Systems, Inc., both of which are Texas corporations, and the sale of substantially all of the assets (other than the assets required to operate the business of the Logan Oil Tools Canada division) of its subsidiary, Logan Completion Systems Inc., an Alberta corporation, for aggregate gross proceeds of approximately US$3.86 million (collectively, the "Subsidiary Sales"). The purchaser was a private entity located in Houston, Texas. |
