CISCO, TX, Oct. 6, 2017 /CNW/ - Wilks Brothers, LLC (the "Acquiror") announced today that on October 6, 2017, the Acquiror acquired 157,500 common shares (the "Common Shares") of Cathedral Energy Services Ltd. (the "Issuer") at a price of $1.3591 per Common Share for a total of $214,058.25 through the facilities of the Toronto Stock Exchange. Prior to such acquisition, the Acquiror held, together with its joint actors, 4,748,212 Common Shares representing approximately 9.71% of the issued and outstanding Common Shares. Following the acquisition, the Acquiror holds, together with its joint actors, a total of 4,905,712 Common Shares representing approximately 10.03% of the issued and outstanding Common Shares.
The acquisition of Common Shares was made in the ordinary course of business and for investment purposes. The Acquiror may in future seek to effect material changes in the Issuer's business or corporate structure including, without limitation, changes to the board of directors or management of the Issuer and/or the sale or transfer or material assets of the Issuer or its subsidiaries and in connection therewith may take such actions as are permitted by applicable law including, without limitation, the requisition of meetings of the Issuer's securityholders and the solicitation of proxies from the Issuer's securityholders in any manner permitted by law. Furthermore, depending on various factors including, without limitation, the Issuer's financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, the Issuer's business or financial condition and other factors and conditions the Acquiror deems appropriate, the Acquiror may increase or decrease its beneficial ownership of Common Shares or other securities of the Issuer whether in the open market, by privately negotiated agreement or otherwise.
The Issuer is located at 6030 – 3rd Street S.E., Calgary, Alberta, T2H 1K2. The Acquiror is located at 17010 Interstate 20, Cisco, Texas, 76437. A copy of the early warning report in relation to the acquisition of the Common Shares can be obtained from Morgan Neff (817-850-3600) or on the SEDAR profile of the Issuer at www.sedar.com.
SOURCE Wilks Brothers, LLC.