Gasfrac Energy Svcs (GSFVF) 0.0010 $GSFVF
GASFRAC Implements Previously Announced Plan of Compromise and Arrangement Pursuant to Companies Creditor's Arrangement Act (Canada)
Marketwired - Wed Jul 08, 11:05AM CDT
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation"
announces that further to its previous news releases of March 27, 2015 and April 7, 2015 and the approval of the creditors of the Corporation by an overwhelming majority at a meeting of creditors of the Corporation held on June 22, 2015, the Corporation has implemented a Companies' Creditors Arrangement Act ("CCAA" plan of compromise and arrangement (the "Plan", pursuant to which Calfrac Well Services Ltd. ("Calfrac" has acquired 100% equity ownership of GASFRAC, as an operating entity pursuant to a Sanction Order of the Alberta Court of Queen's Bench in Bankruptcy and Insolvency ("Court" issued on June 24, 2015 (the "Order" and recognized by the United States Bankruptcy Court for the Western District of Texas, San Antonio Division (the "US Court" pursuant to a Sanction Recognition Order issued on June 25, 2015. In addition thereto, all former subsidiaries of the Corporation have or are in the process of being liquidated and dissolved.
GASFRAC Provides CCAA Process Update Including Completion of the Sale of Fracturing and Related Assets and Intellectual Property
Marketwired - Tue Apr 07, 12:12PM CDT
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation" (TSX: GFS) announces that it has completed the previously announced sale of fracturing and related assets and intellectual property to STEP Energy Services Ltd., subject to closing adjustments and a hold back related to the transaction (the "Sale Transaction". The Sale Transaction resulted from the previously announced court-approved sale and investment solicitation process ("SISP" conducted within the Companies Creditor's Arrangement Act ("CCAA" and Chapter 15 of the United States Bankruptcy Code ("Chapter 15" proceedings, under the supervision of Ernst & Young Inc., the court appointed monitor ("Monitor" and the Special Committee and the board of directors of the Corporation.
GFS.TO: 0.27 (unch)
GASFRAC Announces Court Approval of Agreement for Purchase of Operating Assets and Services, Proposed CCAA Plan of Compromise and Arrangement and CCAA Update
Marketwired - Fri Mar 27, 10:56PM CDT
GASFRAC Energy Services Inc. (TSX: GFS)("GASFRAC" or the "Corporation" announces that GASFRAC has obtained the approval of the Court of Queen's Bench of Alberta (the "Court" in respect of a definitive asset purchase agreement (the "Purchase Agreement" entered into between GASFRAC and a third party oil and gas service industry partner, whereby GASFRAC would purchase certain fracking assets and related services (the "Purchase Transaction". The Purchase Transaction will assist GASFRAC in maintaining continued operations following completion of the previously announced sale transaction involving STEP Energy Services Ltd. announced in March 3, 2015 (the "Asset Sale Transaction", under the supervision of its board of directors and Ernst & Young Inc., the court appointed monitor ("Monitor".
GFS.TO: 0.27 (unch)
GASFRAC Announces Court Approval of Agreement for the Sale of Substantially All Operating Assets and Related Technology and CCAA Update
Marketwired - Fri Mar 20, 5:02PM CDT
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation" (TSX: GFS) announces that GASFRAC has obtained the approval of the Court of Queen's Bench of Alberta and the United States Bankruptcy Court (the "Courts" in respect of the definitive asset purchase agreement (the "Sale Agreement" entered into between GASFRAC and STEP Energy Services Ltd. ("STEP", contemplating the sale of substantially all of its assets and related technology by GASFRAC to STEP, together with all other matters contemplated by the Sale Agreement (the "SaleTransaction".The Sale Transaction resulted from the previously announced court-approved sale and investment solicitation process ("SISP" conducted within the Companies Creditor's Arrangement Act("CCAA" and Chapter 15 of the United States Bankruptcy Code("Chapter 15" proceedings, under the supervision of Ernst & Young Inc., the court appointed monitor ("Monitor" and the board of directors of the Corporation.GASFRAC will continue to operate its business under the supervision of its board of directors and the Monitor.
GFS.TO: 0.27 (unch)
GASFRAC Announces Agreement for the Sale of Substantially All Operating Assets and Related Technology and CCAA Update
Marketwire Canada - Tue Mar 03, 5:00AM CST
GASFRAC Energy Services Inc. (TSX:GFS) ("GASFRAC" or the "Corporation" announces today that GASFRAC has entered into a definitive asset purchase agreement in respect of the sale of substantially all of its assets and related technology to a third party oil and natural gas service industry purchaser (the "Sale Transaction". The Sale Transaction resulted from the previously announced court-approved sale and investment solicitation process ("SISP" conducted within the Companies Creditor's Arrangement Act ("CCAA" and Chapter 15 of the United States Bankruptcy Code ("Chapter 15" proceedings, under the supervision of Ernst & Young Inc., the court appointed monitor ("Monitor" and the Special Committee of the Corporation. Until the Sale Transaction is completed, GASFRAC will continue to operate its business under the supervision of its board of directors and the Monitor.
GFS.TO: 0.27 (unch)
GASFRAC Announces Resignation of Director
Marketwired - Tue Feb 17, 9:44AM CST
GASFRAC Energy Services Inc. (TSX: GFS) ("GASFRAC or the "Corporation" announces today that Dale Tremblay has resigned as a member of the Board of Directors effective immediately.
GFS.TO: 0.27 (unch)
GASFRAC Announces Appointment to Board of Directors
Marketwired - Fri Feb 06, 1:23PM CST
GASFRAC Energy Services Inc. ("GASFRAC or the "Corporation" (TSX: GFS) announces today that Leigh Cassidy has joined the Corporation on an advisory basis to assist the Corporation in connection with its previously announced Companies' Creditors Arrangement Act ("CCAA" proceedings and sale and investment solicitation process ("SISP Procedure". In addition, Mr. Cassidy has been appointed as a director of the Corporation, as Chairman of the Board of Directors and as a member of the Special Committee of independent directors which has been appointed to supervise the Corporation's strategic alternative process.
GFS.TO: 0.27 (unch)
GASFRAC Announces CCAA Update, SISP Procedure, Corporate Reorganization and Changes to Board of Directors
Marketwired - Wed Jan 28, 2:04PM CST
GASFRAC Energy Services Inc. (TSX: GFS) ("GASFRAC or the "Corporation" announces today that it has obtained court approval under the previously announced Companies' Creditors Arrangement Act ("CCAA" proceedings in respect of a forbearance agreement, entered into between GASFRAC and its subsidiaries and the Corporation's primary secured lender, PNC Bank Canada Branch ("PNC", pursuant to which PNC has agreed, subject to certain conditions and restrictions, to forbear from exercising remedies under its existing secured loan documents that they are entitled to exercise with respect to specific defaults by GASFRAC under such secured loan documents, until March 2, 2015, or a date on which an event of default under the forbearance agreement occurs. In addition thereto, PNC has also agreed to increase the line of credit available to the Corporation to a maximum amount of $39,500,000 to enable the Corporation to fund ongoing operations.
GFS.TO: 0.27 (unch)
GASFRAC Files for CCAA Protection
Marketwired - Thu Jan 15, 7:45PM CST
GASFRAC Energy Services Inc. ("GASFRAC or the "Corporation" (TSX: GFS) announces today that the Corporation has commenced proceedings and obtained court protection under the Companies' Creditors Arrangement Act ("CCAA" pursuant to an initial order granted by the Court of Queen's Bench, in the Province of Alberta, on January 15, 2015 ("Initial Order". Pursuant to the Initial Order the Corporation and all of its operating subsidiaries have obtained protection from its creditors under CCAA, other than in respect of the Corporation's primary secured lender, PNC Bank Canada Branch ("PNC", for a period expiring February 9, 2015, as the Corporation attempts to restructure and reorganize its assets, business and financial affairs, subject to possible extension from time to time pursuant to further court order. The application for the Initial Order was not opposed by PNC and the Corporation is currently attempting to negotiate a forbearance agreement with PNC related to its secured indebtedness, although there is no assurance such an agreement will be reached or what the terms thereof will include.
GFS.TO: 0.27 (unch)
IIROC Trade Halt - GASFRAC Energy Services Inc.
Newsfile Corp - Thu Jan 15, 7:15AM CST
The following issues have been halted by IIROC:
GASFRAC Sucessfully Terminates Proppant Supply Contract
Marketwired - Mon Dec 01, 8:21AM CST
GASFRAC Energy Services Inc. (the "Company" (TSX: GFS) is pleased to announce the termination of a proppant supply contract particulars of which were previously discussed in the Company's unaudited interim financial statements for the period ended September 30, 2014. The supply contract had required the purchase of material volumes of ceramic proppant in excess of the Company's current requirements. The termination of the contract will reduce GASFRAC's contractual expense obligations going forward. In consideration of the termination of the supply contract the Company forfeited the deposit under the supply contract and returned 3,000 tonnes of proppant to the counter party, the costs and liabilities related thereto, having been reflected in the Company's unaudited interim financial statements as at September 30, 2014.
GFS.TO: 0.27 (unch)
GASFRAC Announces Third Quarter 2014 Financial Results and Provides Operations, Corporate and Strategic Updates. GASFRAC to Evaluate Strategic Alternatives to Enhance Shareholder Value
Marketwired - Fri Nov 14, 7:04AM CST
GASFRAC Energy Services (the "Company" (TSX: GFS) today announced third quarter 2014 financial results and various corporate updates.
GFS.TO: 0.27 (unch)
GASFRAC Implements Previously Announced Plan of Compromise and Arrangement Pursuant to Companies Creditor's Arrangement Act (Canada)
Marketwired - Wed Jul 08, 11:05AM CDT
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation"
announces that further to its previous news releases of March 27, 2015 and April 7, 2015 and the approval of the creditors of the Corporation by an overwhelming majority at a meeting of creditors of the Corporation held on June 22, 2015, the Corporation has implemented a Companies' Creditors Arrangement Act ("CCAA" plan of compromise and arrangement (the "Plan", pursuant to which Calfrac Well Services Ltd. ("Calfrac" has acquired 100% equity ownership of GASFRAC, as an operating entity pursuant to a Sanction Order of the Alberta Court of Queen's Bench in Bankruptcy and Insolvency ("Court" issued on June 24, 2015 (the "Order" and recognized by the United States Bankruptcy Court for the Western District of Texas, San Antonio Division (the "US Court" pursuant to a Sanction Recognition Order issued on June 25, 2015. In addition thereto, all former subsidiaries of the Corporation have or are in the process of being liquidated and dissolved. GASFRAC Provides CCAA Process Update Including Completion of the Sale of Fracturing and Related Assets and Intellectual Property
Marketwired - Tue Apr 07, 12:12PM CDT
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation"
(TSX: GFS) announces that it has completed the previously announced sale of fracturing and related assets and intellectual property to STEP Energy Services Ltd., subject to closing adjustments and a hold back related to the transaction (the "Sale Transaction". The Sale Transaction resulted from the previously announced court-approved sale and investment solicitation process ("SISP" conducted within the Companies Creditor's Arrangement Act ("CCAA" and Chapter 15 of the United States Bankruptcy Code ("Chapter 15" proceedings, under the supervision of Ernst & Young Inc., the court appointed monitor ("Monitor" and the Special Committee and the board of directors of the Corporation. GFS.TO: 0.27 (unch)
GASFRAC Announces Court Approval of Agreement for Purchase of Operating Assets and Services, Proposed CCAA Plan of Compromise and Arrangement and CCAA Update
Marketwired - Fri Mar 27, 10:56PM CDT
GASFRAC Energy Services Inc. (TSX: GFS)("GASFRAC" or the "Corporation"
announces that GASFRAC has obtained the approval of the Court of Queen's Bench of Alberta (the "Court" in respect of a definitive asset purchase agreement (the "Purchase Agreement" entered into between GASFRAC and a third party oil and gas service industry partner, whereby GASFRAC would purchase certain fracking assets and related services (the "Purchase Transaction". The Purchase Transaction will assist GASFRAC in maintaining continued operations following completion of the previously announced sale transaction involving STEP Energy Services Ltd. announced in March 3, 2015 (the "Asset Sale Transaction", under the supervision of its board of directors and Ernst & Young Inc., the court appointed monitor ("Monitor". GFS.TO: 0.27 (unch)
GASFRAC Announces Court Approval of Agreement for the Sale of Substantially All Operating Assets and Related Technology and CCAA Update
Marketwired - Fri Mar 20, 5:02PM CDT
GASFRAC Energy Services Inc. ("GASFRAC" or the "Corporation"
(TSX: GFS) announces that GASFRAC has obtained the approval of the Court of Queen's Bench of Alberta and the United States Bankruptcy Court (the "Courts" in respect of the definitive asset purchase agreement (the "Sale Agreement" entered into between GASFRAC and STEP Energy Services Ltd. ("STEP", contemplating the sale of substantially all of its assets and related technology by GASFRAC to STEP, together with all other matters contemplated by the Sale Agreement (the "SaleTransaction".The Sale Transaction resulted from the previously announced court-approved sale and investment solicitation process ("SISP" conducted within the Companies Creditor's Arrangement Act("CCAA" and Chapter 15 of the United States Bankruptcy Code("Chapter 15" proceedings, under the supervision of Ernst & Young Inc., the court appointed monitor ("Monitor" and the board of directors of the Corporation.GASFRAC will continue to operate its business under the supervision of its board of directors and the Monitor. GFS.TO: 0.27 (unch)
GASFRAC Announces Agreement for the Sale of Substantially All Operating Assets and Related Technology and CCAA Update
Marketwire Canada - Tue Mar 03, 5:00AM CST
GASFRAC Energy Services Inc. (TSX:GFS) ("GASFRAC" or the "Corporation"
announces today that GASFRAC has entered into a definitive asset purchase agreement in respect of the sale of substantially all of its assets and related technology to a third party oil and natural gas service industry purchaser (the "Sale Transaction". The Sale Transaction resulted from the previously announced court-approved sale and investment solicitation process ("SISP" conducted within the Companies Creditor's Arrangement Act ("CCAA" and Chapter 15 of the United States Bankruptcy Code ("Chapter 15" proceedings, under the supervision of Ernst & Young Inc., the court appointed monitor ("Monitor" and the Special Committee of the Corporation. Until the Sale Transaction is completed, GASFRAC will continue to operate its business under the supervision of its board of directors and the Monitor. GFS.TO: 0.27 (unch)
GASFRAC Announces Resignation of Director
Marketwired - Tue Feb 17, 9:44AM CST
GASFRAC Energy Services Inc. (TSX: GFS) ("GASFRAC or the "Corporation"
announces today that Dale Tremblay has resigned as a member of the Board of Directors effective immediately. GFS.TO: 0.27 (unch)
GASFRAC Announces Appointment to Board of Directors
Marketwired - Fri Feb 06, 1:23PM CST
GASFRAC Energy Services Inc. ("GASFRAC or the "Corporation"
(TSX: GFS) announces today that Leigh Cassidy has joined the Corporation on an advisory basis to assist the Corporation in connection with its previously announced Companies' Creditors Arrangement Act ("CCAA" proceedings and sale and investment solicitation process ("SISP Procedure". In addition, Mr. Cassidy has been appointed as a director of the Corporation, as Chairman of the Board of Directors and as a member of the Special Committee of independent directors which has been appointed to supervise the Corporation's strategic alternative process. GFS.TO: 0.27 (unch)
GASFRAC Announces CCAA Update, SISP Procedure, Corporate Reorganization and Changes to Board of Directors
Marketwired - Wed Jan 28, 2:04PM CST
GASFRAC Energy Services Inc. (TSX: GFS) ("GASFRAC or the "Corporation"
announces today that it has obtained court approval under the previously announced Companies' Creditors Arrangement Act ("CCAA" proceedings in respect of a forbearance agreement, entered into between GASFRAC and its subsidiaries and the Corporation's primary secured lender, PNC Bank Canada Branch ("PNC", pursuant to which PNC has agreed, subject to certain conditions and restrictions, to forbear from exercising remedies under its existing secured loan documents that they are entitled to exercise with respect to specific defaults by GASFRAC under such secured loan documents, until March 2, 2015, or a date on which an event of default under the forbearance agreement occurs. In addition thereto, PNC has also agreed to increase the line of credit available to the Corporation to a maximum amount of $39,500,000 to enable the Corporation to fund ongoing operations. GFS.TO: 0.27 (unch)
GASFRAC Files for CCAA Protection
Marketwired - Thu Jan 15, 7:45PM CST
GASFRAC Energy Services Inc. ("GASFRAC or the "Corporation"
(TSX: GFS) announces today that the Corporation has commenced proceedings and obtained court protection under the Companies' Creditors Arrangement Act ("CCAA" pursuant to an initial order granted by the Court of Queen's Bench, in the Province of Alberta, on January 15, 2015 ("Initial Order". Pursuant to the Initial Order the Corporation and all of its operating subsidiaries have obtained protection from its creditors under CCAA, other than in respect of the Corporation's primary secured lender, PNC Bank Canada Branch ("PNC", for a period expiring February 9, 2015, as the Corporation attempts to restructure and reorganize its assets, business and financial affairs, subject to possible extension from time to time pursuant to further court order. The application for the Initial Order was not opposed by PNC and the Corporation is currently attempting to negotiate a forbearance agreement with PNC related to its secured indebtedness, although there is no assurance such an agreement will be reached or what the terms thereof will include. GFS.TO: 0.27 (unch)
IIROC Trade Halt - GASFRAC Energy Services Inc.
Newsfile Corp - Thu Jan 15, 7:15AM CST
The following issues have been halted by IIROC:
GASFRAC Sucessfully Terminates Proppant Supply Contract
Marketwired - Mon Dec 01, 8:21AM CST
GASFRAC Energy Services Inc. (the "Company"
(TSX: GFS) is pleased to announce the termination of a proppant supply contract particulars of which were previously discussed in the Company's unaudited interim financial statements for the period ended September 30, 2014. The supply contract had required the purchase of material volumes of ceramic proppant in excess of the Company's current requirements. The termination of the contract will reduce GASFRAC's contractual expense obligations going forward. In consideration of the termination of the supply contract the Company forfeited the deposit under the supply contract and returned 3,000 tonnes of proppant to the counter party, the costs and liabilities related thereto, having been reflected in the Company's unaudited interim financial statements as at September 30, 2014. GFS.TO: 0.27 (unch)
GASFRAC Announces Third Quarter 2014 Financial Results and Provides Operations, Corporate and Strategic Updates. GASFRAC to Evaluate Strategic Alternatives to Enhance Shareholder Value
Marketwired - Fri Nov 14, 7:04AM CST
GASFRAC Energy Services (the "Company"
(TSX: GFS) today announced third quarter 2014 financial results and various corporate updates. GFS.TO: 0.27 (unch)
