TORONTO, ONTARIO -- (Marketwired) -- 07/20/17 -- Wilks Brothers, LLC (the "Acquiror") announced today that on July 20, 2017, the Acquiror acquired 2,730,895 common shares (the "Common Shares") of Calfrac Well Services Ltd. (the "Issuer") at a price of $3.04 per Common Share for a total of $8,301,920.80 through the facilities of the Toronto Stock Exchange. Prior to such acquisition, the Acquiror held, together with its joint actors, 13,673,000 Common Shares representing approximately 9.99% of the issued and outstanding Common Shares. Following the acquisition, the Acquiror holds, together with its joint actors, a total of 16,403,895 Common Shares representing approximately 11.99% of the issued and outstanding Common Shares.
The acquisition of Common Shares was made in the ordinary course of business and for investment purposes. The Acquiror 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. Depending on various factors including, without limitation, the Issuer's financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, the Issuer's business or financial condition and other factors and conditions the Acquiror deems appropriate, the Acquiror may make such determinations in future and may 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 411 - 8th Avenue S.W., Calgary, Alberta, T2P 4G8. The Acquiror is located at 17010 Interstate 20, Cisco, Texas, 76437. A copy of the early warning report in relation to the acquisition 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.
Contacts:
Morgan Neff
817-850-3600
