|By Marketwired .||
|May 15, 2014 06:15 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/15/14 -- Calmena Energy Services Inc. (TSX:CEZ) ("Calmena") is pleased to announce that it has now closed the previously disclosed sale of its Equipment Rentals and Frac Fluids Management service lines to Great Prairie Energy Services Inc. (TSX VENTURE:GPE) ("Great Prairie") for cash consideration of $10.0 million.
Proceeds from this sale in the amount of $9.0 million will be used to repay amounts owing by Calmena under its credit facilities with its senior lender and the remaining $1.0 million will be used to fund general working capital requirements.
This sale was completed in conjunction with Calmena's previously announced process to explore strategic alternatives. This strategic alternatives process is ongoing and it remains Calmena's intention not to disclose developments with respect to the process unless and until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate.
ABOUT CALMENA ENERGY SERVICES INC.
Calmena is a diversified energy services company that provides well construction services to its customers operating in Canada, the United States, Latin America and the Middle East and North Africa. The common shares of Calmena trade on the Toronto Stock Exchange under the symbol "CEZ".
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Calmena Energy Services Inc.
John R. King
President and Chief Executive Officer
Calmena Energy Services Inc.
Peter J. Balkwill
Vice President Finance and Chief Financial Officer
(403) 366-2066 (FAX)
May. 22, 2015 03:00 PM EDT Reads: 3,941
May. 22, 2015 03:00 PM EDT Reads: 1,466
May. 22, 2015 02:30 PM EDT Reads: 807
May. 22, 2015 02:15 PM EDT Reads: 1,180
May. 22, 2015 02:00 PM EDT Reads: 1,212
May. 22, 2015 02:00 PM EDT Reads: 1,450
May. 22, 2015 02:00 PM EDT Reads: 4,515
May. 22, 2015 02:00 PM EDT Reads: 1,299
May. 22, 2015 01:00 PM EDT Reads: 1,100
May. 22, 2015 01:00 PM EDT Reads: 1,482
May. 22, 2015 12:30 PM EDT Reads: 829
May. 22, 2015 12:30 PM EDT Reads: 3,347
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data...
May. 22, 2015 12:00 PM EDT Reads: 1,567
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, will discuss IoE and the enormous opportunities it provides to public and private firms alike. She will shar...
May. 22, 2015 12:00 PM EDT Reads: 1,717
May. 22, 2015 12:00 PM EDT Reads: 1,634