Bullboard - Stock Discussion Forum ACT Energy Technologies Ltd T.ACX

Alternate Symbol(s): CETEF

Energy Oil & Gas Drilling

ACT Energy Technologies Ltd., formerly Cathedral Energy Services Ltd., is a Canada-based energy company. It is a partner to North American energy companies requiring high-performance directional drilling, measurement while drilling (MWD) and rotary steerable services, as well as in providing remote operations. It operates in Canada and in the United States as Altitude Energy Partners, and in... see more

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ACT Energy Technologies Ltd > CATHEDRAL ENERGY SERVICES LTD. ANNOUNCES STRATEGIC ACQUIS.

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Post by Betteryear2 on Jul 11, 2023 9:19pm

CATHEDRAL ENERGY SERVICES LTD. ANNOUNCES STRATEGIC ACQUIS.

CALGARY, AB, July 11, 2023 /CNW/ - Cathedral Energy Services Ltd. (TSX: CET) ("Cathedral" or the "Company") today announced the acquisition of Rime Downhole Technologies, LLC ("Rime"), through a wholly-owned subsidiary, for an aggregate purchase price of approximately USD$41 million (approximately CAD$55 million) comprised of USD$21 million cash and USD$20 million in subordinated exchangeable promissory notes ("EP Notes") that are exchangeable into a maximum of 24,570,000 common shares ("Common Shares") of Cathedral (the "Transaction").

CATHEDRAL ENERGY SERVICES LTD. ANNOUNCES STRATEGIC ACQUISITION OF RIME DOWNHOLE TECHNOLOGIES, LLC (newswire.ca)

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