The NCIB effectively renews the existing NCIB, which is scheduled to terminate on
Pursuant to the renewed NCIB, the Company has been authorized by the TSX to acquire up to a maximum of 1,317,158 Common Shares, or approximately 10% of the public float as of
Purchases under the NCIB will be made through the facilities of the TSX and the NYSE or alternative trading platforms and in accordance with applicable regulatory requirements at a price per Common Share representative of the market price at the time of acquisition. The number of Common Shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 35,942 Common Shares (which is equal to 25% of the average daily trading volume of 143,769 on the TSX for the six full calendar months ending
Pursuant to its existing NCIB, under which the Company has approval from the TSX to purchase up to 1,199,883 Common Shares (on a post-consolidation basis) for the period of
The Company intends to enter into an automatic securities purchase plan effective
ABOUT PRECISION
Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as 'Alpha' that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.
Precision is headquartered in
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS
Certain statements contained in this report, including statements that contain words such as 'could', 'should', 'can', 'anticipate', 'estimate', 'intend', 'plan', 'expect', 'believe', 'will', 'may', 'continue', 'project', 'potential' and similar expressions and statements relating to matters that are not historical facts constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking information and statements').
In particular, forward-looking information and statements include, but are not limited to the funding of purchases under the NCIB and the entering in to of an automatic securities purchase plan and advantages of the NCIB.
Contact:
Tel: 713.435.6100
Web: www.precisiondrilling.com
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