Strad Energy Services Updates Normal Course Issuer Bid
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CALGARY, Alberta, April 10, 2018 (GLOBE NEWSWIRE) -- Strad Energy Services Ltd. ("Strad" or the "Corporation") (TSX:SDY) today announced an update on the status of the Corporation’s Normal Course Issuer Bid (“NCIB”). The NCIB commenced on September 14, 2017, and as at the date hereof, Strad has invested $4.0 million repurchasing an aggregate of 2,682,420 common shares at an average cost of $1.49 per share. Strad may still purchase an additional 318,217 common shares until the end of the program on September 13, 2018, and expects to continue to do so, subject to available excess cash flow and trading restrictions that may arise due to ongoing corporate activities.
About Strad Energy Services Ltd.
Strad is a North American energy services company that provides rental equipment and matting solutions to the oil and gas and energy infrastructure sectors. Strad focuses on providing complete customer solutions in Canada and the United States.
Strad is headquartered in Calgary, Alberta, Canada. Strad is listed on the Toronto Stock Exchange under the trading symbol "SDY".
For more information, please contact
Strad Energy Services Ltd.
Andy Pernal
President & Chief Executive Officer
(403) 775-9202
Email: apernal@stradenergy.com
Strad Energy Services Ltd.
Michael Donovan
Chief Financial Officer
(403) 775-9221
Email: mdonovan@stradenergy.com
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