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Cathedral Energy Services Announces Bought Deal Financing
/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/ CALGARY, April 28 /CNW/ - Cathedral Energ...
About this update from Act Energy Technologies Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\n\nCALGARY, April 28 /CNW/ - Cathedral Energy Services Income Trust (the\n"Trust" - TSX: CET.UN) is pleased to announce that it has entered into an\nagreement with a syndicate of underwriters led by Wellington West Capital\nMarkets Inc. (the "Underwriters") to sell to the Underwriters, on a bought\ndeal basis, 3,144,000 trust units (the "Trust Units") at $4.15 per Trust Unit\n(the "Offering Price") for gross proceeds of $13,047,600 (the "Offering"). In\naddition, the Trust has granted the Underwriters an option exercisable at any\ntime prior to 5pm (Calgary time) on the 30th day following the closing of the\nOffering to purchase up to an additional 471,600 Trust Units at the Offering\nPrice for additional gross proceeds of up to $1,957,140.\n\n\nThe Trust Units will be offered by way of short form prospectus in the\nprovinces of British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario\nand in other jurisdictions via applicable exemptions from prospectus and\nregistration requirements. The Offering is expected to close on or about May\n19, 2009, subject to certain conditions including, without limitation, the\nreceipt of all necessary regulatory approvals including the approval of the\nToronto Stock Exchange.\n\n\nThe net proceeds of the offering will be used for general corporate\npurposes.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of an offer to buy securities in any jurisdiction. The Trust\nUnits will not and have not been registered under the United States Securities\nAct of 1933 and may not be offered or sold in the United States absent\nregistration or an applicable exemption from the registration requirements.\n\n\nAbout Cathedral Energy Services Income Trust\n\n\nCathedral Energy Services Income Trust is a limited purpose trust which\nowns the securities of Cathedral Energy Services Ltd. and Cathedral Energy\nServices Limited Partnership (collectively "Cathedral") represents the right\nto receive cash flow available for distribution from Cathedral. Cathedral is\nengaged in the business of providing selected oilfield services to oil and\nnatural gas companies in Western Canada and the Rocky Mountain and Williston\nBasin regions of the United States and c...