CALGARY, ALBERTA--(Marketwire - Sept. 28, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
LRP V Luxembourg Holdings S.à r.l. ("LRP") announces that it has acquired an additional 2,595,350 common shares ("Purchased Shares") of Xtreme Drilling and Coil Services Corp. ("XDC") at a price of $1.15 per common share, for an aggregate purchase price of $2,984,652.50 pursuant to prospectus offering of XDC (the "Offering"). The Purchased Shares represent approximately 3.21% of the outstanding common shares of XDC. Prior to the Offering, LRP held 12,691,140 common shares of XDC (approximately 19.83% of the issued and outstanding common shares of XDC prior to giving effect to the Offering).
Following completion of the Offering, LRP holds 15,286,490 common shares representing approximately 18.92% of the outstanding common shares of XDC.
LRP acquired the Purchased Shares for investment purposes. LRP may in the future take such actions in respect of its shareholdings in XDC as it may deem appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of XDC through open market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers.
A copy of LRP's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Hille-Paul Schut or Hamish Hector Lawrence Ross.