DIVERGENT Energy Services Corp.
TSX VENTURE : DVG

DIVERGENT Energy Services Corp.

December 21, 2016 09:00 ET

DIVERGENT Extends Warrant Expiry Date

CALGARY, ALBERTA--(Marketwired - Dec. 21, 2016) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

DIVERGENT Energy Services Corp. (the "Corporation") (TSX VENTURE:DVG) announces that, subject to TSX Venture Exchange Inc. approval, it intends to extend the expiry date from December 31, 2016 to December 31, 2017 of 2,875,000 common share purchase warrants of the Corporation (the "Warrants"). The Warrants were issued to debentureholders on December 30, 2014 in consideration for debentureholders agreeing to amend certain terms of the previously issued 10% secured, subordinated debentures. Each Warrant entitles the holder thereof to purchase one common share in the capital of the Corporation at an exercise price of $0.20.

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.

Electromagnetic Pumps use permanent magnet motor technology that duplicates rod pump movement without rod strings or surface lifting equipment, while still utilizing an industry standard rod pump. All moving parts are contained within the submersible pump housing, eliminating rod and tubing wear, making it ideally suited for landing in deviated or horizontal oil wells and as an alternative to conventional pump jack installations.

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain necessary approvals from the TSX Venture Exchange. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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