Business
Cathedral Energy Services Income Trust announces closing of $15 million bought deal equity financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ CALGAR...
About this update from Act Energy Technologies Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\nTHE UNITED STATES/\n\n\nCALGARY, May 19 /CNW/ - Cathedral Energy Services Income Trust (TSX:\nCET.UN) (the "Trust") is pleased to announce that it has closed its previously\nannounced "bought deal" financing (the "Offering"). Pursuant to the Offering,\nthe Trust has issued a total of 3,615,600 trust units (the "Trust Units"), of\nwhich 471,600 Trust Units were issued pursuant to the exercise (in full) of\nthe over-allotment option granted to the underwriters. All of the Trust Units\nwere issued at a price of $4.15 per Trust Unit, for gross proceeds of\n$15,004,740. The syndicate of underwriters was led by Wellington West Capital\nMarkets Inc. and included CIBC World Markets Inc., FirstEnergy Capital Corp.,\nPeters & Co. Limited, Thomas Weisel Partners Canada Inc., Acumen Capital\nFinance Partners Limited and Cormark Securities Inc.\n\n\nThe Trust is a limited purpose trust which owns the securities of\nCathedral Energy Services Ltd. and Cathedral Energy Services Limited\nPartnership (collectively "Cathedral") representing the right to receive cash\nflow available for distribution from Cathedral. Cathedral is engaged in the\nbusiness of providing selected oilfield services to oil and natural gas\ncompanies in Western Canada and the Rocky Mountain and Williston Basin regions\nof the United States and currently provides directional drilling services and\nrelated equipment rentals, production testing services and wireline services.\nFor more information, visit www.cathedralenergyservices.com.\n\n\nCertain statements in this news release including (i) statements that may\ncontain words such as "anticipate", "could", "expect", "seek", "may" "intend",\n"will", "believe", "should", "project", "forecast", "plan" and similar\nexpressions, including the negatives thereof, (ii) statements that are based\non current expectations and estimates about the markets in which the\nTrust/Cathedral operates and (iii) statements of belief, intentions and\nexpectations about developments, results and events that will or may occur in\nthe future, constitute "forward-looking statements" and are...