One-Page Deal Sheet
New West to Acquire Oilfield Services Package; Eyes Expansion
New West Energy Services Inc. 40 Creek Oilfield Services Ltd., Tippin D Oilfield Services Ltd.
Announced Date
September 18,2013
Transaction Type
Corporate
Transaction Details: Subscribe to see
New West Energy Services Inc. has entered into a share purchase agreement with the shareholders of 1770245 Alberta Ltd., Tippin D Oilfield Services Ltd. and 40 Creek Oilfield Services Ltd. providing for the purchase by the Corporation of all of the issued and outstanding common shares of 1770245 for an aggregate purchase price of $1.8 million.
The purchase price will be comprised of $1.3 million in cash, the issuance of 3,000,000 common shares in the capital of the Corporation at a deemed price of $0.10 per share and a post-closing payment of up to $200,000 which is payable as an earn out…