CALGARY, ALBERTA, June 26, 2017 – Critical Control Energy Services Corp. (“Critical Control” or the “Corporation”) (TSX:CCZ) is providing an important update to investors buying common shares of the Corporation.
Critical Control has proposed a plan of arrangement (the “Plan of Arrangement”), the details of which are contained in an information circular dated May 26, 2017 (the “Information Circular”) mailed to all shareholders of record as of May 25, 2017 for the Corporation’s Annual and Special Meeting of Shareholders to be held on June 29, 2017, and in press releases dated May 11, 2017, June 13, 2017, and June 20, 2017.
Under the proposed Plan of Arrangement, all shareholders must return a properly completed Letter of Transmittal and Election Form to Computershare Trust Company of Canada at its principal offices in Calgary or Toronto prior to the election deadline of 10:00 am (Calgary time), June 27, 2017 (the “Election Deadline”). Any shareholder who holds their common shares in a brokerage account, must contact their broker to advise their election such that the broker can complete the Letter of Transmittal and Election Form on their behalf prior to the Election Deadline.
All holders of common shares who have failed to elect to keep their common shares or exchange them for preferred shares by the Election Deadline, is at risk of having some or all of their common shares exchanged for preferred shares under the proposed Plan of Arrangement (the “Automated Conversion”).
ALL PURCHASERS OF COMMON SHARES OF THE CORPORATION TAKE NOTE:
A. ALL TRADES THAT SETTLE BEFORE THE ELECTION DEADLINE AND FOR WHICH THE PURCHASER FAILS TO MAKE A VALID ELECTION PRIOR TO THE ELECTION DEADLINE; AND
B. ALL TRADES THAT SETTLE AFTER THE ELECTION DEADLINE AND PRIOR TO THE COMPLETION OF THE PROPOSED PLAN OF ARRANGEMENT;
ARE ALL SUBJECT TO THE AUTOMATED CONVERSION.
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
President & CEO
Tel (403) 705-7500