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Calfrac Announces Receipt of TSX Relief
Calfrac Announces Receipt of TSX Relief Canada NewsWire CALGARY, AB ...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n \n \n \n Calfrac Announces Receipt of TSX Relief\n \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 Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n March 29, 2021\n \n /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX: CFW) announced today that the Toronto Stock Exchange (the \"TSX\") has granted the relief requested by Calfrac, as referenced in Calfrac's news release of\n \n March 12, 2021\n \n . The relief confirms that the terms of the TSX's conditional listing approval have been satisfied in respect of the Common Shares issuable upon conversion of the remaining\n \n $58,950,000\n \n of 1.5 Lien Notes issued by Calfrac in connection with its Recapitalization Transaction, subject to, among other conditions, completion of the rescission and cancellation of the previously described\n \n $1,050,000\n \n of 1.5 Lien Notes acquired by an institutional Shareholder. As a result, the rescission will confirm the disinterested vote of the institutional Shareholder in connection with the Recapitalization Transaction.\n \n \n Calfrac and the institutional Shareholder have entered into an agreement to rescind the purchase of the\n \n $1,050,000\n \n of 1.5 Lien Notes by such institutional Shareholder and to cancel the applicable 1.5 Lien Notes without any entitlement to interest otherwise paid or payable, following which the institutional Shareholder will be returned its initial purchase price. Calfrac intends to complete the rescission as soon as possible.\n \n \n As a condition of the TSX granting the requested relief, Calfrac will be subject to enhanced review by the TSX Compliance and Disclosure Group for the following 12 months, subject to extension in the TSX's discretion. Calfrac will file an affidavit today with the Court of Queen's Bench of\n \n Alberta\n \n in respect of the subject matter of the rescission.\n \n \n Calfrac's common shares and warrants are publicly traded on the Toronto Stock Exchange under the trading symbols \"CFW\" and \"CFW.WT\", respectively. Calfrac provides specialized oilfield services to exploratio...