Edmonton, Canada, December 13, 2012 - Bri-Chem Corp. ("Bri-Chem" or "Company") (TSX: BRY) a leading North American wholesale distributor and manufacturer of oil and gas drilling fluids and steel pipe is pleased to announce that Bri-Chem has entered into a letter of intent ("Letter of Intent") to acquire 100% of the issued and outstanding shares of an Oklahoma based drilling fluids wholesaler. The business operates as a wholesaler primarily in the State of Oklahoma and the transaction will also include the purchase of certain land and building assets related to their operation. The total purchase price is approximately US$2.5 million which includes a US$250,000 one year vendor takeback and the issuance of US$200,000 in common shares of Bri-Chem ("Common Shares"). Subject to receipt of TSX approval, closing is expected to be on or before December 31, 2012.
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