WESTERN ENERGY SERVICES CORP. ANNOUNCES COMPLETION OF $75 MILLION BOUGHT DEAL FINANCING

About this update from Western Energy Services Corp.

[{"type":"text","content":"\n\n\n Mar. 29, 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, March 29 /CNW/ - Western Energy Services Corp. (TSX Venture:\n WRG) ("Western" or the "Company") is pleased to announce that it has\n closed the previously announced bought deal financing (the "Offering")\n with a syndicate of underwriters co-led by Cormark Securities Inc. and\n RBC Capital Markets and including Raymond James Ltd., Peters & Co.\n Limited, AltaCorp Capital Inc., FirstEnergy Capital Corp., and HSBC\n Securities (Canada) Inc. (collectively, the "Underwriters"). Pursuant\n to the Offering, the Company has issued a total of 192,500,000 common\n shares ("Common Shares") at an issue price of $0.390 per Common Share\n for gross proceeds to Western of $75,075,000.\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 release shall not\n constitute an offer to sell or the solicitation of an offer to buy nor\n shall there be any sale of the securities in any jurisdiction in which\n such offer, soli...

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