Wilks Brothers, LLC acquires common shares of Calfrac Well Services Ltd.

TORONTO, Aug. 23, 2017 /CNW/ - Wilks Brothers, LLC ("Wilks LLC") announced today that on August 23, 2017, Wilks LLC acquired 400,000 Common Shares and its joint actors, Dan and Staci Wilks (the "Wilkses" and together with Wilks LLC, the "Acquirors") acquired 2,094,577 common shares (the "Common Shares") of Calfrac Well Services Ltd. (the "Issuer") at a price of approximately $3.42 per Common Share for a total of $8,521,973.95 ($1,366,480.00 and $7,155,493.95, respectively) through the facilities of the Toronto Stock Exchange. Prior to such acquisition, the Acquirors together held 21,017,995 Common Shares representing approximately 15.37% of the issued and outstanding Common Shares (the 13,154,895 Common Shares held by Wilks LLC representing approximately 9.62% of the issued and outstanding Common Shares and the 7,863,100 Common Shares held by the Wilkses representing approximately 5.75% of the issued and outstanding Common Shares). Following the acquisition, the Acquirors together hold 23,512,572 Common Shares representing approximately 17.19% of the issued and outstanding Common Shares (the 13,554,895 Common Shares held by Wilks LLC representing approximately 9.91% of the issued and outstanding Common Shares and the 9,957,677 Common Shares held by the Wilkses representing approximately 7.28% of the issued and outstanding Common Shares).

The acquisitions of Common Shares were made in the ordinary course of business and for investment purposes. Neither of the Acquirors has made any determinations with respect to its role in the future of the Issuer and its business or with respect to future acquisitions of, ownership of, or control over, any additional securities of the Issuer. 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 Acquirors deem appropriate, the Acquirors may make such determinations in future and may increase or decrease their 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 411 – 8th Avenue S.W., Calgary, Alberta, T2P 4G8. The Acquirors are 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.