Key Developments: Calmena Energy Services Inc (CEZ.TO)

CEZ.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Calmena energy Services announces divestiture of Brazil operations
Monday, 20 Oct 2014 08:30am EDT 

Calmena energy Services Inc:Completes sale of its Brazil operations, including all of its assets and its wholly owned subsidiary located in Brazil to a private Canadian company for a purchase price of $7.4 mln.Sale price is comprised of the settlement of the entire balance owing under Calmena's US dollar term loan of $7.9 mln net of cash included in the sale of $0.5 mln.Peters and Co. Limited has been engaged to act as financial advisor in connection with the process.  Full Article

Calmena Energy Services inc closing of sale of equipment rentals and frac fluids management service lines to Great Prairie Energy Services
Thursday, 15 May 2014 06:15pm EDT 

Calmena Energy Services Inc;:Closes previously disclosed sale of its Equipment Rentals and Frac Fluids Management service lines to Great Prairie Energy Services Inc.Sells for cash consideration of $10 mln.Proceeds from this sale in the amount of $9.0 mln will be used to repay amounts owing by Calmena under its credit facilities with its senior lender.Remaining $1.0 mln will be used to fund general working capital requirements.  Full Article

Calmena Energy Services Inc announces sale of drilling technologies
Friday, 9 May 2014 08:30am EDT 

Calmena Energy Services Inc:Has sold its Canadian based Drilling Technologies research and manufacturing division and certain related assets to FastCAP Systems Corporation for consideration comprised of $1.0 million cash and the provision of $1.2 million in kind.The $1.0 million cash proceeds from this transaction will be used to fund a reduction of amounts owing by Calmena under its credit facilities with its senior lender.  Full Article

Calmena Energy Services Inc announces agreement to sell Equipment Rentals and Frac Fluids Management Service Lines
Thursday, 8 May 2014 06:57pm EDT 

Calmena Energy Services Inc:Enters into a definitive agreement to sell its Equipment Rentals and Frac Fluids Management service lines to Great Prairie Energy Services Inc.For cash consideration of $10.0 million.The sale is expected to close on or about May 15.Proceeds from this sale in the amount of $9.0 million will fund a reduction of amounts owing by Calmena under its credit facilities with its senior lender.The remaining $1.0 million will fund general working capital requirements.  Full Article

Calmena Energy Services Inc Announces Closing Of Sale Of Canadian Contract Drilling Assets To CanElson Drilling Inc
Wednesday, 24 Jul 2013 10:45pm EDT 

Calmena Energy Services Inc announced that it has now closed the previously disclosed sale of all of remaining Canadian Contract Drilling assets to CanElson Drilling Inc. (CanElson) for a purchase price of $15.0 million. The proceeds from the sale will be used to reduce corporate indebtedness. Peters and Co. Limited has been engaged to act as financial advisor in connection with the process.  Full Article

Calmena Energy Services Inc Announces Divestiture Of Canadian Contract Drilling Assets
Monday, 22 Jul 2013 07:30am EDT 

Calmena Energy Services Inc announced that it has entered into a binding definitive agreement (the Agreement) to sell all of its remaining Canadian Contract Drilling assets to CanElson Drilling Inc. (CanElson) for a purchase price of $15.0 million. The purchase price is comprised of all cash and is not subject to CanElson obtaining financing. The closing is subject to certain conditions and is expected to occur on July 24, 2013. The proceeds will be used to reduce corporate indebtedness.  Full Article

Calmena Energy Services Inc Announces Closing of Sale of Wireline Technologies Division
Friday, 26 Apr 2013 04:00pm EDT 

Calmena Energy Services Inc announced that it has now closed the previously disclosed sale of its Wireline Technologies division to Keane Group Holdings, LLC, for proceeds of $12 million cash with an effective date of April 26th, 2013. The proceeds from the sale will be used to reduce corporate indebtedness.  Full Article

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