CALGARY,
AB, July 3, 2024 /CNW/ - Cathedral Energy
Services Ltd. (TSX: CET) ("Cathedral" or the
"Company") announces that, further to its press release
dated June 27, 2024, the Company's
common shares are expected to continue to trade on the TSX on an
unconsolidated basis under the Cathedral name and symbol "CET"
until the close of trading on July 4,
2024. The Company's seven (7) for one (1) share
consolidation and name change to "ACT Energy Technologies Ltd." is
expected to become effective for trading purposes on TSX under the
new symbol "ACX" at the open on July 5,
2024.
Further details regarding the Company's share
consolidation and name change are contained in the Company's
June 27, 2024 press release.
About Cathedral
Cathedral Energy Services Ltd., based in
Calgary, Alberta, Canada, is
incorporated under the Business Corporations Act
(Alberta). We operate in
Canada under "Cathedral Energy
Services" and in the United States
under "Discovery Downhole Services, a division of Cathedral Energy
Services Inc.", "Altitude Energy Partners, LLC" and "Rime Downhole
Technologies, LLC". Cathedral's common shares are publicly-traded
on the Toronto Stock Exchange under the symbol "CET". Cathedral is
a trusted partner to North American energy companies requiring high
performance directional drilling services and related downhole
technologies. We work in partnership with our customers to tailor
our equipment and expertise to meet their specific geographical and
technical needs. Our experience, technologies and responsive
personnel enable our customers to achieve higher efficiencies and
lower project costs. For more information, visit
www.cathedralenergyservices.com / www.actenergy.com.
Requests for further information should be
directed to:
Tom Connors, President &
Chief Executive Officer
P. Scott MacFarlane, Interim Chief
Financial Officer
Cathedral Energy Services Ltd. / ACT Energy Technologies Ltd.
6030 3 Street S.E.
Calgary, Alberta T2H 1K2
Telephone: 403.265.2560, Fax: 403.262.4682
www.cathedralenergyservices.com / www.actenergy.com
FORWARD-LOOKING INFORMATION
This news release contains statements and
information that may constitute "forward-looking information"
within the meaning of applicable securities legislation, including
statements identified by the use of words such as "will",
"expects", "positions", "believe", "potential" and similar words,
including negatives thereof, or other similar expressions
concerning matters that are not historical facts. Forward-looking
information in this news release includes, but is not limited to,
the proposed share consolidation, name change, and stock symbol
change, including the anticipated timing thereof.
The name change, stock symbol change, share
consolidation and date of trading resumption remain subject to the
final approval of the Toronto Stock Exchange.
The forward-looking information in this news
release is based on various assumptions that may prove to be
incorrect. Although the Company believes that such assumptions are
reasonable, the Company can give no assurance that such
forward-looking statements will prove to be correct or that any of
the events anticipated by such forward-looking statements will
occur, or if any of them do so, what benefits the Company will
derive there from.
SOURCE Cathedral Energy Services Ltd.