Skip to main content

DIVERGENT Energy Services Announces Results of its Special Meeting of Shareholders

Written by Customer Service on . Posted in Public Companies.

CALGARY, Alberta, Dec. 29, 2020 (GLOBE NEWSWIRE) — DIVERGENT Energy Services Corp. (“Divergent”, the “Company“, or “DVG”) is pleased to announce the results of its Special Meeting of Shareholders held on December 28, 2020.
Motions Approved by the ShareholdersThe Company has received approval from its shareholders for (a) the consolidation of the common shares of the Company on the basis of one (1) post-consolidation share for up to every ten (10) pre-consolidation shares outstanding, and (b) the conversion of seventy five percent (75%) of the outstanding principal amount of the debentures held by certain related parties of the Company into common shares of the Company at a price of $0.03 per share (prior to the effect of the share consolidation).   The approved transactions, which are subject to final approval from the TSX Venture Exchange, are described in detail in the Information Circular which is available at both www.sedar.com and the Company’s website at www.divergentenergyservices.com. The Company expects the process to receive final approval from the TSX Venture Exchange to be completed in the next two weeks.Cameron Barton, Executive Chairman commented: “Having received approval of shareholders on these two critical matters allows the financial restructuring of the Company to proceed. In turn this will enable the Company to seek the necessary capital to support growth expectations within our region of focus. I wish to thank shareholders for their ongoing commitment in this regard.”For Further Information:
Ken Berg, President and Chief Executive Officer, kberg@divergentenergyservices.comLance Mierendorf, Interim Chief Financial Officer, lmierendorf@divergentenergyservices.comABOUT DIVERGENT ENERGY SERVICES CORP.Headquartered in Calgary, Alberta, Divergent provides Artificial Lift products and services that are used in the oil and gas industry. Product lines including Electric Submersible Pumps, Electric Submersible Progressing Cavity Pumps, and the future development of an Electromagnetic Pump technology.DIVERGENT Energy Services Corp., 2020, 715 – 5th Ave SW, Calgary, AB T2P 2X6, (403) 543-0060, (403) 543-0069 (fax), www.divergentenergyservices.comFORWARD LOOKING STATEMENTSThis press release contains forward-looking statements, including, without limitation, statements pertaining to shareholder meeting procedures. 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.sedar.com. 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)

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.