Cervus Equipment Corp. Announces Appointment of Larry Benke as New Director; Graham Drake Assumes Role of President and CEO

Symbol: CVL (TSX)

CALGARY, April 26, 2012 /CNW/ - Cervus Equipment Corp. ("Cervus" or the "Company") (TSX: CVL) held its Annual and Special Meeting of Shareholders on April 25, 2012 where it re-elected Peter, Lacey, Graham Drake, Don Bell, Steven Collicutt and Gary Harris, and elected Larry Benke to serve as Directors of the Company. In addition, as part of the succession plan previously disclosed in January 2012, Peter Lacey has been appointed as Executive Chairman of the Board of Directors, and Graham Drake has assumed the role of President and CEO of the Company.

"Mr. Benke has widespread technical and executive experience in the industries in which Cervus operates, and is a valuable addition to Cervus' Board," said Graham Drake, President and CEO of Cervus. "Cervus has a proven growth strategy with strong history of success, and I am looking forward to leading the Company into its next phase of development for continued success and shareholder return."

Mr. Graham Drake began his career at John Deere Ltd. and, over a period of nine years, held several positions in which he was responsible for dealer and customer product service, sales and marketing, and credit management. Mr. Drake joined Agland Equipment Ltd., a John Deere dealer, in 1992, serving as Sales Manager for three years. In 1996, Mr. Drake partnered with Peter Lacey and served as an Owner and General Manager of Agrotec Farm Equipment Ltd., a John Deere dealership in Central Alberta. Mr. Drake joined Cervus at its inception in 1999 and over the past seven years has been responsible for the John Deere dealership operations in Canada and internationally. Mr. Drake has also been a director of

Cervus since 1999 and also serves on the Board of Trustees of Proventure Income Fund. Mr. Drake has a

B.Sc. in Agricultural Engineering from the Macdonald College of McGill University and received an Institute of Corporate Directors designation in 2010.

Mr. Larry Benke has extensive experience in the engineering and construction industries with progressive roles in engineering design, project management and general management including President and Chief Executive Officer of the Colt Companies and Managing Director of WorleyParsons Canada.  He led the Colt Companies through a period of substantial growth and expansion which continued with the integration of the company into WorleyParsons following its acquisition in 2007. Mr. Benke was Managing Director for WorleyParsons Canada from March 2007 until his retirement on June 30, 2010. Mr. Benke is currently a director of WorleyParsons Limited, a global engineering and project delivery company listed on the Australian Securities Exchange.  Mr. Benke is a director of the Board of The Calgary Airport Authority, a not-forprofit responsible for the operation and development of the Calgary International and Springbank airports.  He is also a director of CEDA International, an OMERS owned corporation, providing specialty maintenance and turnaround services to industry.  Mr. Benke graduated from the University of Alberta in 1973 with a Bachelor of Science in Electrical Engineering (Honors Standing).

About Cervus Equipment Corporation

Cervus acquires and manages authorized agricultural, commercial, industrial and transportation equipment dealerships in Western Canada through 42 dealership locations in Alberta, Saskatchewan and Manitoba. Cervus holds an approximate 60% equity interest in Agriturf Limited, a New Zealand-based corporation that offers authorized John Deere equipment, parts and service in the Manawatu, Rotorua, Hawke's Bay and Taranaki regions. The primary equipment brands represented by Cervus include John Deere agricultural equipment; Bobcat and JCB construction equipment; Clark, Sellick, Nissan and Doosan material handling equipment; and Peterbilt transportation equipment. The common shares of Cervus are listed on the Toronto Stock Exchange and trade under the symbol "CVL".

 

Peter Lacey - President & CEO
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Email: [email protected]

Randy Muth - Chief Financial Officer
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Email: [email protected]