Basin Holdings: News Release
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 10/24/11 -- Basin Holdings US LLC ("Basin Holdings") announced on September 19, 2011 that an affiliated entity under Basin Holdings' control (the "Purchaser") entered into a share purchase agreement dated September 9, 2011 (the "Share Purchase Agreement") with 376348 Alberta Ltd., Mr. Doug Wenzel and 560050 Alberta Ltd. (collectively, the "Sellers"), as well as the principal of 560050 Alberta Ltd., Mr. Henry Boychuk, pursuant to which and subject to the terms and conditions thereof the Purchaser has agreed to acquire all of the Sellers' shares in the capital of Wenzel Downhole Tools Ltd., for total consideration of $30,331,187.90 or $2.30 per share (the "Transaction"). The parties have agreed to extend the date of the closing of the Transaction, which is now expected to occur in early November 2011, provided that all of the conditions to closing in the Share Purchase Agreement have been met or satisfied.
For further information or to obtain a copy of the report filed by Basin Holdings on September 20, 2011 in accordance with applicable Canadian securities law, please contact Basin Holdings as follows:
Contacts:
405 Lexington Avenue, 71st Floor
New York, NY 10174
+1 212 695 7376
Attention: John Fitzgibbons
42 Brook Street
London W1K 5DB
+44 20 3178 2941
Attention: Charles Laurey
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Datum: 24.10.2011 - 18:27 Uhr
Sprache: Deutsch
News-ID 1049243
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CALGARY, ALBERTA
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Kategorie:
Investment Opinion
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