Divergent Energy Services Corp.
TSX VENTURE : DVG

Divergent Energy Services Corp.

December 15, 2016 16:30 ET

DIVERGENT Announces Shares for Interest Transaction

CALGARY, ALBERTA--(Marketwired - Dec. 15, 2016) - DIVERGENT Energy Services Corp. (the "Corporation") (TSX VENTURE:DVG) announces that it has elected to satisfy the interest obligation in the amount of $144,931.51 due on December 31, 2016 (the "Interest Obligation") by the delivery of 762,797 common shares of the Corporation ("Common Shares") at a deemed price of $0.19 per Common Share to the holders of Debentures.

The transaction is subject to the final approval of the TSX Venture Exchange (the "TSXV"), and is pursuant to its right to satisfy its interest obligation owed on the debentures of the Corporation. Of the Common Shares issued to satisfy the Interest Obligation, 17,246 Common Shares will be issued to Directors and/or Officers of the Corporation. The Common Shares issued pursuant to the Interest Obligation are subject to a hold period of four months and one day in accordance with applicable securities legislation and the TSXV requirements.

ABOUT DIVERGENT ENERGY SERVICES CORP.

Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of Artificial Lift products and services that are used in the oil and gas industry. Products include Electromagnetic Pumps, Electric Submersible Pumps, and Electric Submersible Progressing Cavity Pumps.

Contact Information

  • DIVERGENT Energy Services Corp.
    Ken Berg
    President and Chief Executive Officer

    DIVERGENT Energy Services Corp.
    Scott Hamilton
    Chief Financial Officer
    (403) 543-0060
    (403) 543-0069 (FAX)
    www.divergentenergyservices.com