CALGARY, March 20, 2014 /CNW/ - Pason Systems Inc. (TSX: PSI) (the
"Corporation") announces that it has filed a notice of its upcoming
Annual and Special Meeting of Shareholders scheduled for May 7, 2014,
along with management's information circular, on SEDAR and Pason's
website, copies of which are available on www.sedar.com and www.pason.com and will be distributed to shareholders of record on March 19, 2014.
The Corporation also announces certain amendments to the Corporation's
by-law in connection with its Annual and Special Meeting of
Shareholders. The board of directors has adopted these by-law
amendments, including amendments to the advance notice requirement,
which were first adopted and disclosed on November 8, 2013. The by-law
amendments are effective as of March 19, 2014. At the May 7, 2014
meeting of shareholders, shareholders will be asked to confirm the
amended and restated by-law, a copy of which has been filed is and is
available under the Corporation's profile at www.sedar.com.
Pason Systems Inc.
Pason Systems Inc. is a leading global provider of specialized data
management systems for drilling rigs. Our solutions, which include data
acquisition, wellsite reporting, remote communications, and web-based
information management, enable collaboration between the rig and the
office. Pason's common shares trade on the Toronto Stock Exchange under
the symbol PSI.
Certain information regarding Pason contained herein may constitute
forward-looking information under applicable securities law. The words
"anticipate", "expect", "believe", "may", "should", "will", "estimate",
"project", "outlook", "forecast" or other similar words are used to
identify such forward-looking information and statements.
Forward-looking statements in this document may include statements,
express or implied regarding the anticipated business prospects and
financial performance of Pason; expectations or projections about
future strategies and goals for growth and expansion; expected and
future cash flows and revenues; and expected impact of future
commitments. These forward-looking statements are based upon various
underlying factors and assumptions, including the state of the economy
and the oil and gas exploration and production business, in particular;
the Corporation's business prospects and opportunities; and estimates
of the financial and operational performance of Pason.
Forward-looking information and statements are subject to known or
unknown risks and uncertainties that may cause actual results to differ
materially from those anticipated or implied in the forward-looking
information and statements. Risk factors that could cause actual
results or events to differ materially from current expectations
include, among others, the ability of Pason to successfully implement
its strategic initiatives and whether such strategic initiatives will
yield the expected benefits, the operating performance of Pason's
assets and businesses, the price of energy commodities, competitive
factors in the energy industry, changes in laws and regulations
affecting Pason's businesses, technological developments, and general
economic conditions. Unpredictable or unknown factors not discussed in
this cautionary disclaimer could also have material adverse effects on
Readers are cautioned not to place undue reliance on forward-looking
statements as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Such forward
looking statements, although considered reasonable by management as of
the date hereof, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking statements
contained in this press release are expressly qualified by this
cautionary statement. Furthermore, any forward looking statements
contained in this news release are made as of the date of this news
release, and Pason does not undertake any obligation to update publicly
or to revise any of the included forward-looking statements, whether as
a result of new information, future events or otherwise, except as
expressly required by securities law.
Additional information on risks and uncertainties and other factors that
could affect Pason's operations or financial results are included in
Pason's reports on file with the Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com or through Pason's website www.pason.com).
SOURCE: Pason Systems Inc.
For further information:
about Pason Systems Inc., visit the company's website at www.pason.com or contact:
President and CEO
Chief Financial Officer