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Canadian Energy Services & Technology Corp. Announces Receipt for Final Short Form Prospectus
Canadian Energy Services & Technology Corp. Announces Receipt for Final Short Form Prospectus
About this update from Ces Energy Solutions Corp
[{"type":"text","content":"\n\n\n\n Sep. 8, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S./\n\nCALGARY, Sept. 8 /CNW/ - Canadian Energy Services & Technology Corp. ("CESTC" or the "Corporation") (TSX: CEU) is pleased to announce that a receipt dated September 7, 2010 (the "Final Receipt") has been received for the final short form prospectus of CESTC dated September 7, 2010 (the "Final Prospectus") filed with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia qualifying the distribution of 2,905,000 common shares of CESTC ("Common Shares") issuable upon exercise of 2,905,000 subscription receipts of CESTC (the "Subscription Receipts"). A copy of the Final Prospectus is available at www.sedar.com.\nAs previously announced, the Subscription Receipts were issued on July 13, 2010 pursuant to a private placement (the "Offering") at a price of $15.50 per Subscription Receipt for gross proceeds to the Corporation of $45,027,500. Pursuant to the terms of the subscription receipt indenture (the "Indenture") governing the Subscription Receipts, each Subscription Receipt entitles the holder to receive one Common Share on exercise of the Subscription Receipt. As a result, all of the outstanding Subscription Receipts are deemed to be exercised effective September 7, 2010 in accordance with the Indenture, without further action on the part of the holder or any additional consideration.\nThe Offering was conducted through a syndicate of underwriters led by Cormark Securities Inc. and including Stifel Nicolaus Canada Inc. (formerly Thomas Weisel Partners Canada Inc.), FirstEnergy Capital Corp., RBC Dominion Securities Inc., Wellington West Capital Markets Inc., HSBC Securities (Canada) Inc. and Paradigm Capital Inc.\n\nAbout Canadian Energy Service...