XTREME DRILLING CORP News Release
June 21, 2016 For Immediate Release
Xtreme Drilling and Coil Services Announces Results of Special Meeting of Shareholders
Calgary, Alberta - (TSX‐XDC) - Xtreme Drilling and Coil Services Corp. ("Xtreme" or the "Company") announces results from the Special Meeting of Shareholders held on June 21, 2016 (the "Special Meeting").
Transaction ResolutionShareholders approved the resolution relating to the sale of all of the assets of Xtreme used or held for use in connection with Xtreme's Coil Tubing Well Services division to Schlumberger (the "Transaction Resolution"). Of the 64,210,678 votes cast on the Transaction Resolution, 64,175,513 votes were in favor (99.95%) and 35,165 votes were against (0.05%).
Name Change ResolutionShareholders also approved the resolution relating to the amendment to the articles of Xtreme to change the name of Xtreme from "Xtreme Drilling and Coil Services Corp." to "Xtreme Drilling Corp." (the "Name Change Resolution"), subject to the completion of the sale of the coil tubing assets. Of the 66,500,716 votes cast on the Name Change Resolution, 66,440,432 votes were in favor (99.91%) and 60,284 votes were against (0.09%).
Final voting results on all matters voted on at the Special Meeting are published on our website www.xtremecoil.com and are filed with SEDAR.
About XtremeXtreme Drilling and Coil Services Corp. ("XDC" on the Toronto Stock Exchange) designs, builds, and operates a fleet of high specification drilling rigs and coiled tubing well service units featuring leading- edge proprietary technology including AC high capacity coil injectors, deep re-entry drilling capability, modular transportation systems and continuous integration of in-house advances in methodologies.
Currently Xtreme operates two service lines: Drilling Services (XDR) and Coil Services (XSR) under contracts with oil and natural gas exploration and production companies and integrated oilfield service providers in Canada, the United States, and Saudi Arabia. For more information about Xtreme, please visit www.xtremecoil.com.
For further information, please contact:Matt Porter, President and Chief Financial Officer tel: +1 281 994 4604 Xtreme Drilling and Coil Services Corp.
9805 Katy Freeway, Suite 650 e-mail: ir@xtremecoil.com Houston, TX 77024 www.xtremecoil.com
Xtreme Drilling and Coil Services Corp. published this content on 22 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 June 2016 17:15:05 UTC.
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