Xtreme Drilling and Coil Services
TSX : XDC

Xtreme Drilling and Coil Services

June 21, 2016 21:40 ET

Xtreme Drilling and Coil Services Announces Results of Special Meeting of Shareholders

CALGARY, ALBERTA--(Marketwired - June 21, 2016) - Xtreme Drilling and Coil Services Corp. (TSX:XDC) ("Xtreme" or the "Company") announces results from the Special Meeting of Shareholders held on June 21, 2016 (the "Special Meeting").

Transaction Resolution

Shareholders approved the resolution relating to the sale of all of the assets of Xtreme used or held for use in connection with Xtreme's Coil Tubing Well Services division to Schlumberger (the "Transaction Resolution"). Of the 64,210,678 votes cast on the Transaction Resolution, 64,175,513 votes were in favor (99.95%) and 35,165 votes were against (0.05%).

Name Change Resolution

Shareholders also approved the resolution relating to the amendment to the articles of Xtreme to change the name of Xtreme from "Xtreme Drilling and Coil Services Corp." to "Xtreme Drilling Corp." (the "Name Change Resolution"), subject to the completion of the sale of the coil tubing assets. Of the 66,500,716 votes cast on the Name Change Resolution, 66,440,432 votes were in favor (99.91%) and 60,284 votes were against (0.09%).

Final voting results on all matters voted on at the Special Meeting are published on our website www.xtremecoil.com and are filed with SEDAR.

About Xtreme

Xtreme Drilling and Coil Services Corp. ("XDC" on the Toronto Stock Exchange) designs, builds, and operates a fleet of high specification drilling rigs and coiled tubing well service units featuring leading-edge proprietary technology including AC high capacity coil injectors, deep re-entry drilling capability, modular transportation systems and continuous integration of in-house advances in methodologies.

Currently Xtreme operates two service lines: Drilling Services (XDR) and Coil Services (XSR) under contracts with oil and natural gas exploration and production companies and integrated oilfield service providers in Canada, the United States, and Saudi Arabia. For more information about Xtreme, please visit www.xtremecoil.com.

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