HALIFAX, March 6, 2020 /CNW/ - G2S2 Capital Inc. ("G2S2") announces that it has acquired ownership of, and control over, 3,802,500 common shares of Western Energy Services Corp. ("Western"), increasing G2S2's holdings to 14,273,000 common shares representing 15.70% of Western's outstanding common shares. G2S2 has filed an early warning report today pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Specifically, on March 5, 2020, G2S2 acquired 3,802,500 common shares of Western through the facilities of the Toronto Stock Exchange at a price of $0.31 per share (the "Acquisition").
Prior to the Acquisition, G2S2 owned and exercised control over an aggregate of 10,470,500 common shares of Western, representing 11.52% of the outstanding common shares.
Immediately after the Acquisition, G2S2 owns and exercises control over an aggregate of 14,273,000 common shares of Western, representing 15.70% of the outstanding common shares.
The shares were purchased for investment purposes. G2S2 may, from time to time, acquire additional common shares or dispose of some or all of their current or additional common shares in the normal course of their investment activities.
The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Western's issuer profile.
G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long term horizon. G2S2 is incorporated under the laws of Canada. G2S2 is controlled by George & Simé Armoyan.
SOURCE G2S2 Capital Inc.
For further information: For further information or to obtain a copy of the early warning report, please contact Rob Jeffery, Executive Vice President & Chief Financial Officer of G2S2 at 902-423-4000.