/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./
CALGARY, June 30, 2015 /CNW/ - PHX Energy Services Corp.
("PHX Energy" or the "Corporation") (TSX: PHX) is
pleased to announce the closing of its bought deal public offering
of 6,095,000 common shares of the Corporation at a price of
$5.75 per share, which includes
795,000 common shares issued pursuant to the exercise in full of
the over-allotment option, for gross proceeds of approximately
$35 million.
The syndicate of underwriters was led by Peters & Co.
Limited and included Scotia Capital Inc. and AltaCorp Capital
Inc.
The securities offered have not been, and will not be,
registered under the United States
Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any U.S. state securities
laws and may not be offered or sold in the United States absent registration or an
available exemption from the registration requirement of the
U.S. Securities Act and applicable U.S. state securities
laws. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About PHX Energy Services Corp.
The Corporation, through its directional drilling subsidiary
entities, provides horizontal and directional drilling technology
and services to oil and natural gas producing companies in
Canada, the US, Albania, and Russia. PHX Energy manufactures its E-360
electromagnetic ("EM") and P-360 positive pulse measurement
while drilling ("MWD") technologies that are made available
for internal operational use. The Corporation's new generation
guidance platform, Velocity Real-Time System ("Velocity"),
offers highly sophisticated measurements and a step change in
functionality, real-time data capabilities and reliability.
PHX Energy also provides electronic drilling recorder
("EDR") technology and services, through Stream
Services.
The common shares of PHX Energy are traded on the Toronto Stock
Exchange under the symbol "PHX".
SOURCE PHX Energy Services Corp.