Business
Calfrac Confirms Receipt of Wilks Brothers, LLC Proposal
Calfrac Confirms Receipt of Wilks Brothers, LLC Proposal Canada NewsWire CALGARY...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\nCalfrac Confirms Receipt of Wilks Brothers, LLC Proposal\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, AB, Aug. 4, 2020\n\n\n\nCALGARY, AB, Aug. 4, 2020 /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX: CFW) acknowledges today's announcement by Wilks Brothers, LLC (\"Wilks Brothers\") that Wilks Brothers has submitted an alternative recapitalization proposal for consideration by Calfrac's Board of Directors.\nThe Calfrac Board of Directors is carefully reviewing the Wilks Brothers proposal with the assistance of its financial and legal advisors. To assist the Board in this process, the Board has formed a special committee comprised of Gregory S. Fletcher, James S. Blair and Kevin R. Baker, all of whom are independent directors (the \"Special Committee\"), to further evaluate the Wilks Brothers proposal.\nOnce the Board and the Special Committee have had an opportunity to evaluate the Wilks Brothers proposal in detail, the Company will make a further announcement. \nAbout Calfrac Well Services Ltd.\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, Argentina and Russia.\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 relating to Calfrac's intentions and expectations regarding the Wilks Brothers proposal, steps to be taken by the Company, the Board and the Special Committee in response thereto and other statements about ...