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Calfrac Shareholders Have a Direct Path to a Premium-To-Market Recovery by Voting Down the Management Transaction
Calfrac Shareholders Have a Direct Path to a Premium-To-Market Recovery by Voting Down the...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\nCalfrac Shareholders Have a Direct Path to a Premium-To-Market Recovery by Voting Down the Management Transaction\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\nCISCO, Texas, Sept. 3, 2020\n\n\n\nCISCO, Texas, Sept. 3, 2020 /CNW/ - Wilks Brothers, LLC (\"Wilks\") provides the true facts in response to recent statements by Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX: CFW). Calfrac has attempted to distract shareholders from the obvious flaws of the Management Plan by raising irrelevant issues and indulging in inuendo. Shareholders should focus on the real facts and Wilks' announced intention to make the Premium Offer to Shareholders as they vote down the flawed management transaction.\nShareholders should use the BLUE PROXY to vote AGAINST the Management Transaction.\nThe facts set out below, and a side-by-side comparison of the Management Transaction vs Wilks Superior Alternative Proposal can be found in a new presentation that can be found at www.afaircalfrac.com. \nCalfrac Statement: \"Wilks is a wolf in sheep's clothing\".\nTHE FACTS:\nWilks rejects this false and defamatory characterization and reminds its fellow shareholders of the adage that: \"The sheep spends its entire life fearing the Wolf, only to be eaten by the Shepherd\".\nRon Mathison and MATCO are the only shareholders who will be entitled to receive additional benefits under the Management Transaction. Mathison/MATCO: \nWill be entitled to participate in the \"1.5 Lien\" Notes financing; Will have the right to appoint a director to the Board; Will have pre-emptive rights with respect to future equity issuances by Calfrac. Such participation will be on an \"as converted basis\"; i.e. MATCO/Mathison will be deemed to own the shares into which the 1.5 Lien Notes can be converted; Will be granted \"registration rights\" pursuant to a Registration Rights Agreement (i.e. the right to compel the Company to file a prospectus to allow him to sell his shares); and No other shareholders are entitled to these benefits.Calfrac Statement: \"The only transaction that is ...