Cathedral Energy Services Ltd T.CET

Alternate Symbol(s): CETEF

Energy Oil & Gas Drilling

Cathedral Energy Services Ltd. is a Canada-based company, which operates in the United States (U.S.) under Discovery Downhole Services, a division of Cathedral Energy Services Inc., Altitude Energy Partners, LLC and Rime Downhole Technologies, LLC. The Company is involved and engaged in the business of providing directional drilling services to oil and natural gas companies in Western Canada and the U.S. Its services include directional drilling, drilling optimization, well planning and automated gamma services (AGS) and remote drilling. Its products include nDURANCE MOTORS, Measurement While Drilling (MWD), FUSION and RapidFire. Its MWD sensors collect data used to determine basic trajectory parameters, such as inclination, direction, and tool-face orientation. Its FUSION family OF MWD tools include FUSION Dual Telemetry (DT), FUSION WPR (Wave Propagation Resistivity), FUSION Gamma Ray (GR) and The Hawk. Its RapidFire family of MWD tools include RapidFire Pulse and RapidFire DT.

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Cathedral Energy Services Ltd

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Post by Betteryear2on Apr 25, 2022 9:05am

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Post# 34628417

CLOSES $26.4 MILLION UPSIZED BOUGHT DEAL EQUITY FINANCING

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

CALGARY, AB, April 25, 2022 /CNW/ - Cathedral Energy Services Ltd. (TSX: CET) ("Cathedral" or the "Company") is pleased to announce it has closed its previously announced "bought deal" short form prospectus offering (the "Offering") of units ("Units") of the Company, including the exercise in full of the underwriters' over-allotment option. The Offering was led by Acumen Capital Finance Partners Limited ("Acumen" or the "Lead Underwriter") and included Peters & Co. Limited (collectively with Acumen, the "Underwriters").