2023
Pason Systems Inc. Announces Renewal of Normal Course Issuer Bid
FOR IMMEDIATE RELEASE
CALGARY, Alberta (December 18, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason” or “the Company”) is pleased to announce that the Toronto Stock Exchange ("TSX") has accepted Pason’s Notice of Intention to commence a normal course issuer bid ("2024 NCIB"). The 2024 NCIB effectively renews the existing normal course issuer bid, which started on December 20, 2022, and is scheduled to end on December 19, 2023 (“2023 NCIB”). The 2024 NCIB will commence on December 20, 2023, and will terminate on December 19, 2024, or such earlier time as the 2024 NCIB is completed or terminated at the option of Pason.
Pason Announces Intent to Purchase Outstanding Shares of Intelligent Wellhead Systems, Inc.
FOR IMMEDIATE RELEASE
CALGARY, Alberta (December 5, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason” or the “Company”) is pleased to announce its intention to exercise a call option for the purchase of all remaining issued and outstanding common shares of Intelligent Wellhead Systems, Inc. (“IWS”) not currently held by Pason for total consideration of $88.3 million (the “Transaction”). As part of the Transaction, Pason will also assume net debt of approximately $7.0 million at closing. The Transaction is expected to close on January 1, 2024, subject to customary closing conditions, and will be financed with cash on hand. As at September 30, 2023, Pason held $178.4 million in Total Cash.
Pason Reports Third Quarter 2023 Results and Declares Quarterly Dividend
FOR IMMEDIATE RELEASE
CALGARY, Alberta (November 2, 2023) – Pason Systems Inc. ("Pason" or the "Company") (TSX:PSI) announced today its 2023 third quarter results and declared a quarterly dividend. The following news release should be read in conjunction with the Company's Management Discussion and Analysis ("MD&A"), the unaudited Interim Condensed Consolidated Financial Statements and related notes for the three and nine months ended September 30, 2023, as well as the Annual Information Form for the year ended December 31, 2022. All of these documents are available on SEDAR at www.sedar.com.
Pason to Release 2023 Third Quarter Results on November 2, 2023
FOR IMMEDIATE RELEASE
CALGARY, Alberta (October 5, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason”) intends to release its 2023 third quarter results after the markets close on Thursday, November 2, 2023. Pason will be conducting a conference call for interested analysts, brokers, investors, and media representatives to review its 2023 third quarter results at 9:00 a.m. (MST) on Friday, November 3, 2023. The conference call dial-in numbers are 1-888-664-6383 or 1-416-764-8650, and the call will be simultaneously audio webcast via: www.pason.com/webcast. You can access the fourteen-day replay by dialing 1-888-390-0541 or 1-416-764-8677, using password 009529#. An archived audio webcast of the conference call will also be available on Pason’s website at www.pason.com/investors.
Pason Reports Second Quarter 2023 Results and Declares Quarterly Dividend
FOR IMMEDIATE RELEASE
CALGARY, Alberta (August 10, 2023) – Pason Systems Inc. ("Pason" or the "Company") (TSX:PSI) announced today its 2023 second quarter results and the declaration of a quarterly dividend. The following news release should be read in conjunction with the Company's Management Discussion and Analysis ("MD&A"), the unaudited Interim Condensed Consolidated Financial Statements and related notes for the three and six months ended June 30, 2023, as well as the Annual Information Form for the year ended December 31, 2022. All of these documents are available on SEDAR at www.sedar.com.
Pason to Release 2023 Second Quarter Results on August 10, 2023
FOR IMMEDIATE RELEASE
CALGARY, Alberta (July 5, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason”) intends to release its 2023 second quarter results after the markets close on Thursday, August 10, 2023. Pason will be conducting a conference call for interested analysts, brokers, investors, and media representatives to review its 2023 second quarter results on Friday, August 11, 2023, 9:00 a.m. (MDT). The conference call dial-in numbers are 1-888-664-6383 or 1-416-764-8650, and the call will be simultaneously audio webcast via: www.pason.com/webcast. You can access the fourteen-day replay by dialing 1-888-390-0541 or 1-416-764-8677, using password 233195#. An archived audio webcast of the conference call will also be available on Pason’s website at www.pason.com/investors.
Pason Systems Inc. Reports Voting Results of Director Elections
FOR IMMEDIATE RELEASE
CALGARY, Alberta (May 5, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason”) announced today the director election results from its 2023 Annual and Special Meeting of Shareholders held on May 4, 2023. The following six nominees were elected as directors of Pason to hold office until the next annual meeting of shareholders of Pason or until their successors are elected or appointed:
Pason Reports First Quarter 2023 Results and Declares Quarterly Dividend
FOR IMMEDIATE RELEASE
CALGARY, Alberta (May 4, 2023) – Pason Systems Inc. ("Pason" or the "Company") (TSX:PSI) announced today its 2023 first quarter results and the declaration of a quarterly dividend. The following news release should be read in conjunction with the Company's Management Discussion and Analysis ("MD&A"), the unaudited Interim Condensed Consolidated Financial Statements and related notes for the three months ended March 31, 2023, as well as the Annual Information Form for the year ended December 31, 2022. All of these documents are available on SEDAR at www.sedar.com.
Pason to Hold Virtual AGM and Release 2023 First Quarter Results on May 4, 2023
FOR IMMEDIATE RELEASE
CALGARY, Alberta (April 5, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason”) will be holding its annual general meeting of shareholders on Thursday, May 4, 2023, at 3:30 p.m. (MDT) via live audio webcast at www.pason.com/meetnow. Additional details on how to access and login to the meeting are provided on Pason’s website at www.pason.com/investors.
Pason Reports Fourth Quarter 2022 Results and Declares Quarterly Dividend
FOR IMMEDIATE RELEASE
CALGARY, Alberta (March 2, 2023) – Pason Systems Inc. ("Pason" or the "Company") (TSX:PSI) announced today its 2022 fourth quarter results and the declaration of a quarterly dividend. The following news release should be read in conjunction with the Company's Management Discussion and Analysis ("MD&A") for the three and twelve months ended December 31, 2022, the Consolidated Financial Statements and related notes for the year ended December 31, 2022, as well as the Annual Information Form for the year ended December 31, 2021. All of these documents are available on SEDAR at www.sedar.com.
Pason Announces Appointment of Ken Mullen to Board of Directors
FOR IMMEDIATE RELEASE
CALGARY, Alberta (January 9, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason” or “the Company”) is pleased to announce the appointment of Ken Mullen to its board of directors. Mr. Mullen has over 25 years of experience holding various executive and director positions with public and private energy and energy services companies. He is currently engaged as a dealing representative with Barometer Capital Management Inc. and was previously the co-founder and President & CEO of Savanna Energy Services Corp. Prior to this, he was President & CEO of Plains Energy Services Ltd. He currently serves on the board of Total Energy Services Inc. Mr. Mullen received his Bachelor of Commerce and Bachelor of Laws degrees from the University of Calgary and holds Chartered Accountant and Institute of Corporate Directors designations. He joins the board of Pason as an independent, non-executive director and will stand for nomination at the next annual meeting of shareholders.
Pason to Release 2022 Fourth Quarter Results on March 2, 2023
FOR IMMEDIATE RELEASE
CALGARY, Alberta (January 5, 2023) – Pason Systems Inc. (TSX: PSI) (“Pason”) intends to release its 2022 fourth quarter results after the markets close on Thursday, March 2, 2023.