Calgary, Alberta--(Newsfile Corp. - June 18, 2019) - Alykhan Mamdani, the President, Chief Executive Officer and a director of Critical Control Energy Services Corp. ("Critical Control" or the "Corporation") (formerly TSX: CCZ; CCZ.PR.A), has filed an Early Warning Report in accordance with National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues, in connection with his acquisition of 1,969,042 common shares of the Corporation pursuant to a plan of arrangement transaction that closed on June 5, 2019 (the "Plan of Arrangement"), as further described in a news release issued by the Corporation on June 5, 2019.
The Plan of Arrangement was completed pursuant to an Arrangement Agreement (as amended by an Arrangement Amending Agreement) (the "Arrangement Agreement") between the Corporation, Alykhan Mamdani and 2209021 Ontario Inc.
The Arrangement Agreement required the closing of a private placement (the "Private Placement") as a condition precedent to occur immediately prior to the Plan of Arrangement taking effect. Pursuant to the Private Placement, Alykhan Mamdani acquired 5,848,205 common shares and 427,549 Series A preferred shares of the Corporation. As set out in the Arrangement Agreement, the common shares and Series A preferred shares were exchanged for 1,969,042 common shares post Plan of Arrangement.
Immediately before the Private Placement and Plan of Arrangement, Alykhan Mamdani held or had control and direction of 8,501,326 common shares and 46,000 Series A preferred shares of the Corporation, representing 18.97% and 1.53% of the issued and outstanding common shares and Series A preferred shares respectively, on a non-diluted basis.
Immediately after the closing of the Plan of Arrangement, Alykhan Mamdani held or had control and direction of 3,680,342 common shares representing 29.8% of the issued and outstanding common shares on a non-diluted basis.
For further information and to obtain a copy of the early warning report filed by Alykhan Mamdani, please see Critical Control's profile on the SEDAR website www.sedar.com.
About Critical Control
Critical Control provides solutions for the collection, control and analysis of measurement and operational data related to oil and gas wells across North America. We provide services to capture the data, cloud based software to visualize and manage it and the business intelligence to make quicker and more informed operational decisions.
For further information
Alykhan Mamdani
President & Chief Executive Officer
Tel (403) 705-7500
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45710
