Business
WESTERN ENERGY SERVICES CORP. ANNOUNCES $75 MILLION BOUGHT DEAL FINANCING
Mar. 8, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERV...
About this update from Western Energy Services Corp.
[{"type":"text","content":"\n\n\n Mar. 8, 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 8 /CNW/ - Western Energy Services Corp. (TSX Venture:\n WRG) ("Western" or the "Company") is pleased to announce that it has\n entered into an agreement with a syndicate of underwriters co-led by\n Cormark Securities Inc. and RBC Capital Markets and including Raymond\n James Ltd., Peters & Co. Limited, AltaCorp Capital Inc., FirstEnergy\n Capital Corp., and HSBC Securities (Canada) Inc. (collectively, the\n "Underwriters") pursuant to which the Underwriters have agreed to\n purchase 192,500,000 common shares ("Common Shares") at an issue price\n of $0.390 per Common Share for gross proceeds to Western of\n approximately $75 million (the "Offering").\n\n\nWestern has also granted the Underwriters an option (the "Over-Allotment\n Option") to purchase up to an additional 28,875,000 Common Shares to\n cover over-allotment, if any, for additional gross proceeds of\n approximately $11 million. The Over-Allotment Option is exercisable in\n whole or in part for a period of 30 days following closing of the\n Offering.\n\n\nThe Offering is scheduled to close on or about March 29, 2011 and is\n subject to certain conditions including, but not limited to, the\n receipt of all necessary approvals, including the approval of the TSX\n Venture Exchange...