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CATHEDRAL ENERGY SERVICES ANNOUNCES DIRECTOR ELECTION RESULTS

May 12, 2022 via NewsWire Tagged With: TSX:CET

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

CALGARY, AB, May 12, 2022 /CNW/ – Cathedral Energy Services Ltd. (the “Company” or “Cathedral”) (TSX: CET) held its annual meeting of shareholders on May 12, 2022. A total of 38,242,191 common shares were voted in connection with the meeting. All the nominees proposed as directors were duly elected as directors of the Company by a majority of the votes cast by the shareholders present or represented by proxy at the meeting, as follows:

Nominee

Number

%

Thomas Connors

38,208,894

99.91 %

Randal H. Pustanyk     

38,208,894

99.91 %… Continue Reading

CATHEDRAL ENERGY SERVICES REPORTS RESULTS FOR 2022 Q1

May 12, 2022 via NewsWire Tagged With: TSX:CET

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

 CALGARY, AB, May 12, 2022 /CNW/ – Cathedral Energy Services Ltd. (the “Company” or “Cathedral”) (TSX: CET) announces its consolidated financial results for the three months ended March 31, 2022 and 2021. 

Dollars in 000’s except per share amounts.

This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws.  For a full disclosure of forward-looking statements and the risks to which they are subject, see “Forward-Looking Statements” later in this news release.  This news release contains references to Adjusted gross margin (gross margin plus non-cash … Continue Reading

CATHEDRAL ENERGY SERVICES CLOSES $26.4 MILLION UPSIZED BOUGHT DEAL EQUITY FINANCING INCLUDING EXERCISE IN FULL OF OVER-ALLOTMENT OPTION

April 25, 2022 via NewsWire Tagged With: TSX:CET

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

CALGARY, AB, April 25, 2022 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company“) is pleased to announce it has closed its previously announced “bought deal” short form prospectus offering (the “Offering“) of units (“Units“) of the Company, including the exercise in full of the underwriters’ over-allotment option. The Offering was led by Acumen Capital Finance Partners Limited (“Acumen” or the “Lead Underwriter“) and included Peters & Co. … Continue Reading

Cathedral Energy Services Ltd. Announces Upsize to Bought Deal Offering

April 5, 2022 via NewsWire Tagged With: TSX:CET

CALGARY, AB, April 4, 2022 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company“) is pleased to announce that it has amended the terms of its previously announced offering of Units (as defined below). Under the amended terms of the Bought Deal Offering (as defined below), a syndicate of underwriters led by Acumen Capital Finance Partners Limited (the “Underwriters“) have agreed to purchase 32,858,000 Units (the “Units“) from the treasury of the Company, at a price of $0.70 per Unit (the “Issue Price“) and offer them to the public by way of short-form prospectus for total … Continue Reading

CATHEDRAL ENERGY SERVICES ANNOUNCES $20 MILLION BOUGHT DEAL FINANCING

April 4, 2022 via NewsWire Tagged With: TSX:CET

CALGARY, AB, April 4, 2022 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company“) is pleased to announce it has entered into an agreement with Acumen Capital Finance Partners Limited (“Acumen” or the “Lead Underwriter“) on behalf of itself and on behalf of a syndicate of investment dealers (collectively, the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 28,575,000 units (the “Units“) of the Company at a price of $0.70 per Unit (the “Issue Price“) for aggregate gross proceeds to the Company of $20,002,500 (the “Offering“).

Each Unit will … Continue Reading

CATHEDRAL ENERGY SERVICES REPORTS RESULTS FOR 2021 Q4

March 11, 2022 via NewsWire Tagged With: TSX:CET

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

CALGARY, AB, March 10, 2022 /CNW/ – Cathedral Energy Services Ltd. (the “Company” or “Cathedral”) (TSX: CET) announces its consolidated financial results for the three months and year ended December 31, 2021 and 2020. 

Dollars in 000’s except per share amounts.

This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws.  For a full disclosure of forward-looking statements and the risks to which they are subject, see “Forward-Looking Statements” later in this news release.  This news release contains references to Adjusted gross margin (gross margin … Continue Reading

CATHEDRAL ENERGY SERVICES ACQUIRES DISCOVERY DOWNHOLE SERVICES, ADVANCING ITS CONSOLIDATION AND GROWTH STRATEGY

February 11, 2022 via NewsWire Tagged With: TSX:CET

CALGARY, AB, Feb. 11, 2022 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company”) today announced the closing of its acquisition of the operating assets of Discovery Downhole Services (“Discovery”) for a purchase price of CAD $20.8 million (the “Transaction”). Discovery is a privately-held, U.S.-based, high-performance mud motor technology rental business with operations in North Dakota, Texas, and Wyoming.

“Our acquisition of the Discovery assets adds valuable and strategic operations at a time when industry fundamentals are pointing to improving conditions.  We are excited to welcome the Discovery personnel, customers, and suppliers to … Continue Reading

Cathedral Energy Services Reports Results for 2021 Q3

November 10, 2021 via NewsWire Tagged With: TSX:CET

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

CALGARY, AB, Nov. 9, 2021 /CNW/ – Cathedral Energy Services Ltd. (the “Company” or “Cathedral”) (TSX: CET) announces its consolidated financial results for the three and nine months ended September 30, 2021 and 2020. 

Dollars in 000’s except per share amounts.

This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws.  For a full disclosure of forward-looking statements and the risks to which they are subject, see “Forward-Looking Statements” later in this news release.

2021 Q3 KEY TAKEAWAYS

  • The Company completed the acquisition of Precision
  • … Continue Reading

    Cathedral Energy Services Closes its Second Acquisition in the Quarter Through the Purchase of Valiant Energy Services

    September 8, 2021 via NewsWire Tagged With: TSX:CET

    CALGARY, AB, Sept. 8, 2021 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company”) is pleased to announce the closing of Cathedral’s acquisition of the operating assets of Valiant Energy Services (“Valiant”), an Alberta-based directional drilling company, for a purchase price of $1,500,000 (the “Transaction”). The purchase price was satisfied through the issuance of 3,464,204 common shares of Cathedral (the “Consideration Shares”) to Valiant.  The Consideration Shares will be subject to a 4-month statutory hold period.

    Post-closing, Cathedral’s Canadian business is expected to operate over 30 jobs in Q3-2021 in the Western Canadian Sedimentary Basin … Continue Reading

    Cathedral Energy Services Reports Results for 2021 Q2

    August 11, 2021 via NewsWire Tagged With: TSX:CET

    /NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

    CALGARY, AB, Aug. 10, 2021 /CNW/ – Cathedral Energy Services Ltd. (the “Company” or “Cathedral”) (TSX: CET) announces its consolidated financial results for the three and six months ended June 30, 2021 and 2020.  Dollars in 000’s except per share amounts.

    This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws.  For a full disclosure of forward-looking statements and the risks to which they are subject, see “Forward-Looking Statements” later in this news release.

    FINANCIAL HIGHLIGHTS
    Dollars in 000’s except per share amounts

    Three months … Continue Reading

    Cathedral Energy Services and Precision Drilling Announce Business Transaction, Strategic Alliance and Newly Appointed Board Member

    July 23, 2021 via NewsWire Tagged With: TSX:CET, TSX:PD

    CALGARY, AB, July 23, 2021 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral”) and Precision Drilling Corporation (TSX: PD) (NYSE: PDS) (“Precision”) are pleased to announce the closing of Cathedral’s acquisition of Precision’s directional drilling business (the “Transaction”) for a purchase price of $6,350,000.  The Transaction includes operating assets and personnel of Precision’s directional drilling business (including its operations facility in Nisku, Alberta), along with an additional $3 million cash investment by Precision to support growth and expansion of Cathedral, including continuing the buildout of RapidFireTM measurement-while-drilling guidance systems and nDuranceTM drilling motors.  Additionally, the Transaction … Continue Reading

    Cathedral Energy Services Announces Credit Facility Extension and Amendment With a Further Increase in Liquidity

    June 24, 2021 via NewsWire Tagged With: TSX:CET

    /NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

    CALGARY, AB, June 23, 2021 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company”) is pleased to announce that it has agreed to a series of amendments to its existing credit facility (“the Extended Facility”) with its sole lender ATB Financial (“ATB”).  In addition, Cathedral has secured a further $1 million of liquidity through the Highly Affected Sectors Credit Availability Program (“HASCAP”) that sees Business Development Bank of Canada (“BDC”) guarantee a fixed interest rate loan made available to the Company by ATB (the “HASCAP Loan”).… Continue Reading

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