Deepwell Energy Services Trust
TSX : DWL.UN

Deepwell Energy Services Trust

November 30, 2009 18:10 ET

GRM Investments Ltd. Announces Equity Investment in Deepwell Energy Services Trust

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2009) -

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

GRM Investments Ltd. ("GRM") announces that on November 27, 2009, GRM acquired an aggregate of 1,096,085 trust units (the "Units") of Deepwell Energy Services Trust (TSX:DWL.UN) (the "Issuer") pursuant to a private placement in reliance on the "accredited investor" exemption at a subscription price of $0.90 per Unit.

The Units acquired by GRM are held for investment purposes. This investment will be reviewed by GRM on a continuing basis and such holdings may be increased or decreased in the future. GRM may in the future acquire or dispose of Units, through the open market, privately or otherwise, as circumstances or market conditions dictate.

Immediately after the completion of the transactions referred to above, GRM exercised control or direction over 2,396,685 Units representing 17.7% of the issued and outstanding Units as at November 27, 2009.

GRM will file an early warning report pursuant to National Instrument 62-103 "The Early Warning System and Related TakeOver Bid and Insider Reporting Issues" describing the above transactions with applicable securities regulatory authorities, a copy of which will be available at www.sedar.com.

Sam Parrotta, Chief Financial Officer

FOR FURTHER INFORMATION OR FOR A COPY OF THE EARLY WARNING REPORT, PLEASE CONTACT THE PERSON BELOW.

Contact Information

  • Onni Group
    Sam Parrotta
    Chief Financial Officer
    (604) 602-7711
    (604) 688-7907 (FAX)