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WESTERN ENERGY SERVICES CORP. ANNOUNCES THAT IT HAS FILED AND OBTAINED A RECEIPT FOR A FINAL PROSPECTUS FOR ITS RIGHTS OFFERING
WESTERN ENERGY SERVICES CORP. ANNOUNCES THAT IT HAS FILED AND OBTAINED A RECEIPT FOR A FI...
About this update from Western Energy Services Corp.
[{"type":"text","content":"\n \n \n \n WESTERN ENERGY SERVICES CORP. ANNOUNCES THAT IT HAS FILED AND OBTAINED A RECEIPT FOR A FINAL PROSPECTUS FOR ITS RIGHTS OFFERING\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 April 12, 2022\n \n \n /CNW/ - Western Energy Services Corp. (the \"\n \n Company\n \n \" or \"\n \n Western\n \n \") (TSX: WRG) announces that it has filed with the securities regulatory authorities in all the provinces of\n \n Canada\n \n and obtained a receipt for a final short form prospectus (the \"\n \n Final Prospectus\n \n \") with respect to the previously announced rights offering to its shareholders to raise\n \n $31.5 million\n \n (the \"\n \n Rights Offering\n \n \"). The Company has also concurrently filed an amendment to its registration statement on Form F-7/A with the United States Securities and Exchange Commission in\n \n the United States\n \n relating to the Rights Offering.\n \n \n Pursuant to the Rights Offering, all eligible shareholders of Western (subject to applicable law) will receive one right (a \"\n \n Right\n \n \") for every common share (a \"\n \n Common Share\n \n \") held by the shareholder as of\n \n 5:00 p.m.\n \n (\n \n Toronto\n \n time) on\n \n April 19, 2022\n \n (the \"\n \n Record Date\n \n \"). Each Right will entitle an eligible holder to purchase 21.4488803374 Common Shares (the \"\n \n Basic Subscription Privilege\n \n \") at the subscription price of\n \n $0.016\n \n per 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 Expiry Date\n \n \"). The Rights Offering includes an additional subscription privilege entitling holders of Rights who have fully exercised their Rights to subscribe for additional Common Shares, if available, that are not otherwise subscribed for under the Rights Offering. Where the exercise of Rights would otherwise entitle a holder of Rights to receive fractional Common Shares, the holder's entitlement will be reduced to the next lowest whole number of Common Shares.\n \n \n The Rights will be li...