DIVERGENT Energy Services Announces Shares for Interest Transaction
14 December 2023 - 9:43AM
DIVERGENT Energy Services Corp.
(the
"
Corporation"
) announces that it
has elected to satisfy the interest obligation on its debentures
("
Debentures") in the amount of $36,232.88 due on
December 31, 2023 (the "
Interest Obligation") by
the delivery of 1,767,458 common shares of the Corporation
("
Common Shares") at a deemed price of $0.0205 per
Common Share (or such other price as deemed acceptable by the TSX
Venture Exchange ("
TSXV")) to the holders of
Debentures.
The transaction is subject to the final approval
of the TSXV and is pursuant to the Corporation's right to satisfy
its interest obligation owed on the Debentures. Of the Common
Shares to be issued to satisfy the Interest Obligation,
approximately 39,960 Common Shares (subject to rounding) will be
issued to Directors and/or Officers of the Corporation. The Common
Shares issued pursuant to the Interest Obligation are subject to
the minimum pricing rules of the TSXV and a hold period of four
months and one day in accordance with applicable securities
legislation and the TSXV requirements.
For Further Information:
Ken Berg, President and Chief Executive Officer,
kberg@divergentenergyservices.com
Ken Olson, Chief Financial Officer,
ken.olson@divergentenergyservices.com
ABOUT DIVERGENT ENERGY SERVICES
CORP.
Headquartered in Calgary, Alberta, Divergent
provides fluids management products and services for the water, gas
and oil industries through its wholly owned subsidiary Extreme Pump
Solutions LLC.
DIVERGENT Energy Services Corp., 2020, 715 – 5th
Ave SW, Calgary, AB T2P 2X6, (403) 543-0060, (403) 543-0069 (fax),
www.divergentenergyservices.com
FORWARD-LOOKING STATEMENTSThis
press release contains forward-looking statements, including,
without limitation, statements pertaining to interest payments on
the Company’s debentures. All statements included herein, other
than statements of historical fact, are forward-looking information
and such information involves various risks and uncertainties.
There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such information. A
description of assumptions used to develop such forward-looking
information and a description of risk factors that may cause actual
results to differ materially from forward-looking information can
be found in the Company's disclosure documents on the SEDAR+
website at www.sedarplus.ca. Forward-looking statements are based
on estimates and opinions of management of the Company at the time
the information is presented, including expectations provided to
Divergent by its customers. The Company may, as considered
necessary in the circumstances, update or revise such
forward-looking statements, whether as a result of new information,
future events or otherwise, but the Company undertakes no
obligation to update or revise any forward-looking statements,
except as required by applicable securities laws.
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 release.
(Not for dissemination in the United States of
America)
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