Cathedral Energy Services Ltd. (TSX:CET) acquired Rime Downhole Technologies, LLC for CAD 52.6 million on July 11, 2023. To fund the purchase of Rime, Cathedral has obtained a new CAD 27.9 million term loan from its lending syndicate while maintaining conservative leverage ratios. Peters & Co., Limited, Acumen Capital Finance Partners Limited, Cormark Securities Inc. acted as financial advisor and DS Welch Bussières, Gulu Punia of Fasken Martineau DuMoulin LLP and Porter Hedges LLP acted as legal advisor to Cathedral Energy Services Ltd. Parks Paton Hoepfl & Brown acted as financial advisor and Meadows, Owens, Collier, Reed, Cousins & Blau, L.L.P. acted as legal advisor to Rime Downhole Technologies, LLC. Scott Robertson of Stifel FirstEnergy acted as financial advisor to Cathedral Energy Services Ltd. (TSX:CET).

Cathedral Energy Services Ltd. (TSX:CET) completed the acquisition of Rime Downhole Technologies, LLC on July 11, 2023.