Calfrac Announces Exercise of Warrants

About this update from Calfrac Well Services Ltd.

[{"type":"text","content":"\n\n\n\nCalfrac Announces Exercise of Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 6, 2017\n\n\n\nCALGARY, Nov. 6, 2017 /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX–CFW) is pleased to announce that Alberta Investment Management Corporation (\"AIMCo\") has exercised its warrants which were issued in conjunction with the senior secured second lien term loan facility (the \"Term Loan\") announced on June 10, 2016.\n\nAIMCo was issued 6,934,776 warrants to purchase common shares at a price of $4.14 per common share in conjunction with the funding of the Term Loan. Calfrac intends to use the total proceeds from the exercise of such warrants, being $28.7 million, for the repayment of bank indebtedness.\n\nCalfrac's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol \"CFW\". Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, the United States, Russia, Argentina and Mexico.\n\nThis press 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\", \"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 press release contains forward-looking statements and information relating to the use of proceeds from the exercise of the warrants. \n\nThese forward-looking statements and information are based on certain key expectations and assumptions made by Calfrac in light of its experience and perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances, including, but not limited to, the following: the economic and political environment i...

More updates from Calfrac Well Services Ltd.