WESTERN ENERGY SERVICES CORP. ANNOUNCES CLOSING OF FULL OVER-ALLOTMENT OPTION

About this update from Western Energy Services Corp.

[{"type":"text","content":"\n\n\n Apr. 1, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, April 1 /CNW/ - Western Energy Services Corp. (TSXV: WRG)\n ("Western" or the "Company") is pleased to announce that with respect\n to its recently closed bought deal common share offering (the\n "Offering"), the syndicate of underwriters co-led by Cormark Securities\n Inc. and RBC Capital Markets and including Raymond James Ltd., Peters &\n Co. Limited, AltaCorp Capital Inc., FirstEnergy Capital Corp., and HSBC\n Securities (Canada) Inc. (collectively, the "Underwriters"), have\n exercised the full over-allotment option (the "Option") granted to\n them.  Pursuant to the Option, the Underwriters have acquired an\n additional 28,875,000 common shares of Western at a price of $0.390 per\n share for additional gross proceeds to Western of approximately $11.3\n million bringing the aggregate gross proceeds of the Offering to\n approximately $86.3 MM.\n\n\nThe net proceeds of the offering will be used for the repayment of debt,\n for future acquisitions and for general corporate purposes.\n\n\nThe securities offered have not been and will not be registered under\n the U.S. Securities Act of 1933, as amended, and may not be offered or\n sold in the United States absent registration or applicable exemption\n from the registration requirements. This press ...

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