CALGARY, Alberta, June 06, 2018 (GLOBE NEWSWIRE) -- Critical Control Energy Services Corp. (TSX:CCZ) ("Critical Control") announces that Mr. Alykhan Mamdani, President and CEO of Critical Control has purchased 2,827,504 common shares of Critical Control at a purchase price of $0.19 per share in a private transaction.
Immediately prior to the transaction described herein, Mr. Mamdani beneficially owned or exercised control or direction over 4,907,298 common shares, 471,100 deferred shares and 25,000 common share purchase warrants of Critical Control, representing approximately 11.07% of the issued and outstanding common shares of the issuer on a non-diluted basis and representing approximately 12.12% of the issued and outstanding shares of the issuer, assuming the full conversion of the deferred shares and exercise of common share purchase warrants that Mr. Mamdani beneficially owned or exercised control or direction over.
Immediately after the transaction described herein, Mr. Mamdani beneficially owns or exercises control or direction over 7,734,802 common shares, 471,100 deferred shares and 25,000 common share purchase warrants of Critical Control, representing approximately 17.45% of the issued and outstanding common shares of the issuer on a non-diluted basis and representing approximately 18.46% of the issued and outstanding shares of the issuer, assuming the full conversion of the deferred shares and exercise of common share purchase warrants that Mr. Mamdani beneficially owns or exercises control or direction over.
The securities were purchased for investment purposes. Mr. Mamdani may purchase additional common shares of Critical Control or sell common shares of Critical Control presently held from time to time in one or more transactions in his discretion based on market conditions and other factors that he deems relevant. No assurances can be made as to the timing of any purchase or sale or that any such transaction will occur at all.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under Critical Control’s profile on SEDAR (www.sedar.com) containing additional information respecting the forgoing matters. A copy of such report may be obtained by contacting Alykhan Mamdani at 403-705-7500.
The name and address of the shareholder filing the report is:
Alykhan Mamdani
c/o Critical Control Energy Services Corp.
800, 140 – 10th Avenue SE
Calgary, AB T2G 0R1
About Critical Control
Critical Control provides solutions for the collection, control and analysis of measurement and operational data related to oil and gas wells across North America. We provide services to capture the data, cloud based software to visualize and manage it and the business intelligence to make quicker and more informed operational decisions.
For further information
Alykhan Mamdani
President & CEO
Tel (403) 705-7500