Leader Energy Services Announces New Debt Facility
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 03/06/13 -- Leader Energy Services Ltd. (TSX VENTURE: LEA) ("Leader" or the "Company") announces that it has entered into a credit facility with a private Canadian asset-based lender. Proceeds will be used to retire its previous credit facility with a Canadian chartered bank and for working capital.
Leader's new credit facility includes a demand revolving facility of up to $4 million, a one year demand non-revolving term loan of up to $12 million with provision to extend for an additional 6 months. Although the credit facility carries a significantly higher borrowing cost than a conventional bank facility, it contains no financial covenants, and is subject to normal and customary terms and conditions for a facility of this kind.
Whitehorn Merchant Capital Inc. of Calgary, Alberta acted as financial advisor to the Company, and as part of their fee will, subject to regulatory approval receive 400,000 warrants to purchase common shares at an exercise price of $0.32 for a period of three years from closing.
Leader provides well stimulation services in western Canada. Further information on Leader can be found under the Company's listing at and on the Company's website at .
Forward-looking Information
This press release contains certain statements or disclosures relating to the Company that are based on the expectations of the Company as well as assumptions made by and information currently available to the Company which may constitute forward-looking information under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Leader Energy Services Ltd.
Rod Hauser
President & CEO
(403) 265-5400
Leader Energy Services Ltd.
Jason Krueger, CFA
Executive VP & Director
(403) 265-5400
Leader Energy Services Ltd.
Graham Reid, CA
VP Finance & CFO
(403) 265-5400
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Datum: 06.03.2013 - 15:00 Uhr
Sprache: Deutsch
News-ID 1204288
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Kategorie:
Equipment
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