CALGARY, May 25 /CNW/ - Flint Energy Services Ltd. ("Flint") announced today that it priced C$175 million aggregate principal amount of 7.50% senior unsecured notes (the "notes") in a private placement offering to Canadian and United States investors, due in 2019. The notes will be issued at 99.0% of their face amount. Flint intends to use the net proceeds from the proposed notes offering to repay its outstanding indebtedness under its term loans and for general corporate purposes.
The notes have been offered in Canada on a private placement basis pursuant to certain prospectus exemptions. The notes have been offered in the United States only to qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to persons other than US persons in reliance on Regulation S under the Securities Act. This news release and the information contained herein does not constitute an offer of the notes for sale in the United States, and the notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any offer or sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Flint Energy Services Ltd. is a market leader providing an expanding range of integrated products and services for the oil and gas industry including: production services; infrastructure construction; oilfield transportation; and maintenance services. Flint provides this unique breadth of products and services through over 65 locations in the active oil and gas producing areas of western North America, from Inuvik in the Northwest Territories to Mission, Texas on the Mexican border. Flint is a preferred provider of infrastructure construction management, module fabrication, maintenance services for upgrading, and production facilities in Alberta's oil sands sector.
FORWARD LOOKING STATEMENTS
Certain statements in this news release are "forward-looking statements", which reflect current expectations of the management of Flint regarding future events or Flint's future performance. All statements other than statements of historical fact contained in this news release may be forward-looking statements. In particular, forward-looking information and statements herein include, but are not limited to, the proposed use of the net proceeds from the notes offering. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements. Flint believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Flint assumes no obligation to update or revise them to reflect new events or circumstances, except as expressly required by applicable securities law. Further information regarding risks and uncertainties relating to Flint and its securities can be found in the disclosure documents filed by Flint with the securities regulatory authorities, available at www.sedar.com.
SOURCE Flint Energy Services Ltd.
For further information: Guy Cocquyt, Director of Investor Relations, Telephone: (403) 218-7195, Email: firstname.lastname@example.org, Website: www.flintenergy.com