ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

ENS

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:ENS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Enseco Energy Services Corp. Announces the Closing of its Previously Announced Non-Brokered Private Placement

03/02/2012 10:34pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Enseco Energy Services Corp. ("Enseco" or the "Company") (TSX VENTURE:ENS) is
pleased to announce that it has closed its previously announced non-brokered
private placement (the "Private Placement"). The private placement consisted of
the sale of 2,050,000 units of the Company ("Units") at a price of $1.15 per
Units for aggregate proceeds of $2,357,500 Each Unit consists of one common
share in the capital of the Company (a "Common Share") and one-half of one
common share purchase warrant (each whole warrant a "Warrant"). Each Warrant
shall entitle the holder thereof to acquire one Common Share until September 30,
2012 at a price of $1.65 per share. Insiders of the Company acquired 39% of the
Units issued under the Private Placement. The proceeds of the Private Placement
will be used for general working capital and general corporate purposes. 


The Common Shares and Warrants issued pursuant to the Private Placement are
subject to a hold period of four months and one day from the closing date as
well as other restrictions with respect to sales from control positions.


The securities to be issued pursuant to the Private Placement by Enseco have not
and will not be registered under the United States Securities Act, 1933, as
amended (the "1933 Act"), or the securities laws of any state of the United
States and may not be offered or sold in the United States absent registration
or an applicable exemption therefrom under the 1933 Act and the securities laws
of all applicable states.


ABOUT ENSECO ENERGY SERVICES CORP. 

Enseco is a premier supplier of directional drilling and production testing
services operating throughout the Western Canadian Sedimentary Basin and select
markets in the United States, with operations in the Bakken, Cardium, Viking,
Montney and Green River resource plays as well as a corporate and sales office
located in Calgary. Enseco is led by an experienced management team with a focus
on continued value creation through accretive acquisitions and organic growth. 


FORWARD-LOOKING STATEMENTS

Certain information and statements contained in this press release constitute
forward-looking information or forward-looking statements (collectively
"forward-looking statements"), as defined under applicable securities laws.
Specifically this press release contains forward-looking statements relating to
the use of proceeds of the Private Placement and the terms of the Warrants.
These forward-looking statements are based on certain key assumptions regarding,
among other things, current industry conditions and the general economic
conditions in Canada and the United States. Furthermore, these forward-looking
statements are subject to a variety of risks and uncertainties and other factors
that could cause actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements. Such factors include,
but are not limited to, general economic conditions in Canada and the United
States, industry conditions, changes in laws and regulations and changes in how
they are interpreted and enforced, increased competition, volatility of
commodity prices, and the inability to complete the transactions or to obtain
required regulatory approvals. Readers are cautioned that the assumptions used
in the preparation of such information, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. Enseco's actual results,
performance or achievement could differ materially from those expressed in, or
implied by, these forward-looking statements, or if any of them do so, what, if
any, benefits that Enseco will derive therefrom. The forward-looking statements
contained in this press release speak only as of the date of this press release
and are expressly qualified by this cautionary statement. Enseco disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.


1 Year Enseco Energy Services Corp. Chart

1 Year Enseco Energy Services Corp. Chart

1 Month Enseco Energy Services Corp. Chart

1 Month Enseco Energy Services Corp. Chart

Your Recent History

Delayed Upgrade Clock