Cervus Equipment Corporation Purchases Land for Future Site of Calgary Dealership Location

Symbol: CVL (TSX)

CALGARY, May 31, 2012 /CNW/ - Cervus Equipment Corporation ("Cervus") (TSX: CVL) today announced that it has purchased, from an arm's length party, 21.58 acres of land just north of the Calgary city limits with the intention of constructing a dealership location to house its Calgary and area authorized John Deere equipment dealership.  The purchase price for the land was $8,524,100, paid via cash and an approved mortgage that is already in place. Cervus plans to use approximately half the land purchased for the dealership and sub-divide and sell the remaining portion assuming suitable buyers can be located and the properties can be sold on reasonable terms.

About Cervus

Cervus acquires and manages authorized agricultural, commercial, industrial and transportation equipment dealerships in Western Canada through 35 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".

Forward Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning Cervus' intentions with respect to the land acquired. The forward-looking statements and information are based on certain key expectations and assumptions made by Cervus, including expectations and assumptions concerning ability to obtain the various approvals required, and the ability to locate suitable buyers for any subdivided portions of the property and that such subdivided portions can be sold on reasonable terms. Although Cervus believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Cervus can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Cervus being unable to obtain any required approvals including, but not limited to, approvals with respect to the construction of the buildings necessary for the housing of the Calgary and area authorized John Deere equipment dealership on the land acquired, the ability to locate suitable buyers for any subdivided portions of the property and the sale of such subdivided property on reasonable terms. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Cervus undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Graham Drake - CEO
of Cervus Equipment Corporation
Telephone: [phone]
Fax: [phone]
Email: [email protected]

Randy Muth - Chief Financial Officer
of Cervus Equipment Corporation
Telephone: [phone]
Fax: [phone]
Email: [email protected]