By Sheri Kasprzak
New York, March 23 - Western Energy Services Corp. said it has concluded a C$3,000,558 PIPE in two tranches.
The company sold a total of 10,716,280 units at C$0.28 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$0.40 for two years.
In the first tranche, the company sold 7,974,285 units on March 14.
Proceeds will be used for acquisitions, capital expenses and working capital.
Based in Calgary, Alta., Western Energy provides services to the oilfields sector.
| Issuer: | Western Energy Services Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3,000,558
|
| Units: | 10,716,280
|
| Price: | C$0.28
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Settlement date: | March 22
|
| Stock symbol: | TSX Venture: WSV
|
| Stock price: | C$0.32 at close March 22
|
| Stock price: | C$0.335 at close March 23
|
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