MATCO INVESTMENTS LTD. AND RONALD P. MATHISON FILE EARLY WARNING REPORT REGARDING WESTERN ENERGY SERVICES CORP.

About this update from Western Energy Services Corp.

[{"type":"text","content":"\n \n \n \n MATCO INVESTMENTS LTD. AND RONALD P. MATHISON FILE EARLY WARNING REPORT REGARDING WESTERN ENERGY SERVICES CORP.\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 \n CALGARY, AB\n \n \n ,\n \n \n May 18, 2022\n \n \n /CNW/ - On May 18, 2022, MATCO Investments Ltd. (\"\n \n MATCO\n \n \") acquired beneficial ownership and control of 392,439,525 common shares (\"\n \n Common Shares\n \n \") in the capital of Western Energy Services Corp. (\"\n \n Western\n \n \" or the \"\n \n Corporation\n \n \") pursuant to a rights offering to its shareholders (the \"\n \n Rights Offering\n \n \"). MATCO exercised 18,296,504 rights which allowed MATCO to purchase 21.4488803374 Common Shares at a price of\n \n $0.016\n \n per Common Share until\n \n 5:00 p.m.\n \n (\n \n Toronto\n \n time) on\n \n May 13, 2022\n \n (the \"\n \n Basic Subscription Privilege\n \n \").\n \n Ronald P. Mathison\n \n (\"\n \n Mathison\n \n \") is the President, Chief Executive Officer and sole shareholder of MATCO and is Chairman of the Board of Directors of Western.\n \n \n MATCO also subscribed for Common Shares under the additional subscription privilege (the \"\n \n Additional Subscription Privilege\n \n \") described in Western's final short form prospectus dated\n \n April 11, 2022\n \n . The number of Common Shares acquired by MATCO under the Rights Offering reported herein is an estimate subject to change, as the number of Common Shares issuable under the Additional Subscription Privilege are subject to pro-rationing. MATCO will file an amended early warning report upon confirmation of final share numbers once confirmed.\n \n \n Immediately prior to this acquisition, Mathison and MATCO beneficially owned and/or controlled and aggregate of 18,296,504 Common Shares, 126,130 options to purchase Common Shares (the \"\n \n Options\n \n \") and 31,197 restricted share units which may be settled through the issuance of Common Shares (the \"\n \n Restricted Share Units\n \n \").  If all the Options were exer...

More updates from Western Energy Services Corp.