TORONTO, ONTARIO--(Marketwired - Jan. 20, 2017) -
This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Wilks Brothers, LLC (the "Offeror") announced that as of January 19, 2017, it has disposed of ownership of an aggregate of 10,820,000 common shares ("Common Shares") in the capital of Trican Well Service Ltd. (the "issuer") on the Toronto Stock Exchange. The consideration received in respect of the disposition of the Common Shares noted above was between CAD$5.05 - CAD$5.1209 per Common Share and in total between CAD$1,010,000 and CAD$51,977,135.
After giving effect to the disposition of Common Shares noted above, the Offeror beneficially owns an aggregate of 22,375,527 Common Shares, representing approximately 11.57% of the issued and outstanding Common Shares, a decrease of approximately 5.6% in the issued and outstanding Common Shares of the issuer held by the Offeror. Immediately before the disposition of Common Shares noted above, the Offeror held 33,195,527 Common Shares, representing approximately 17.16% of the issued and outstanding Common Shares.
The Offeror's disposition of Common Shares noted above were made in the ordinary course of business and for investment purposes. The Offeror has not made any determinations with respect to its role in the future of the issuer and its business or with respect to future acquisitions of, ownership of, or control over, any additional securities of the issuer. The Offeror may in future, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.
The issuer is located at 2900, 645-7 Avenue SW, Calgary, Alberta, T2P 4G8. The Offeror is located at 17010 Interstate 20, Cisco, Texas, 76437. A copy of the early warning report in relation to the disposition of the Common Shares can be obtained from Morgan Neff (817-850-3600) or on the SEDAR profile of the issuer at www.sedar.com.