Precision Drilling Corporation Announces Filing of Management Information Circular and Virtual-Only Annual Meeting of Shareholders
March 29 2023 - 4:31PM
This news release contains "forward-looking
information and statements" within the meaning of applicable
securities laws. For important information with respect to such
forward-looking information and statements and the further
assumptions and risks to which they are subject, see the
"Cautionary Statement Regarding Forward-Looking Information and
Statements" later in this news release.
Precision Drilling Corporation (“Precision” or
the “Company”) (TSX:PD; NYSE:PDS) announces today the filing of its
Management Information Circular (the “Circular”) issued in
connection with the 2023 Annual Meeting of Shareholders (the
“Annual Meeting”). A copy of the Circular can be downloaded from
the Company’s SEDAR profile at www.sedar.com and the Company’s
EDGAR profile at www.sec.gov. The Circular is also available on
Precision’s website at www.precisiondrilling.com.
Precision’s Annual Meeting will be held on
Thursday, May 11, 2023 at 10:00 a.m. (Mountain Time) for holders
(“Shareholders”) of its common shares. The Annual Meeting will be
held in a virtual-only meeting format. The virtual-only meeting
format will provide all Shareholders an equal opportunity to
participate in the Annual Meeting regardless of their geographic
location. Please see below and the Circular for details and
instructions on participating and voting at the Annual Meeting.
The Annual Meeting can be accessed by logging in
online at https://web.lumiagm.com/220635712. As detailed in the
Circular, registered Shareholders are entitled to participate in
the Annual Meeting if they held their common shares as of the close
of business on March 22, 2023, the record date. Non-registered
(beneficial) Shareholders who wish to vote at the Annual Meeting
will be required to appoint themselves as proxyholder in advance of
the Annual Meeting by writing their own name in the space provided
on the voting instruction form provided by their intermediary,
generally being a bank, trust company, securities broker, trustee
or other institution. Registered Shareholders and duly appointed
proxyholders who participate in the Annual Meeting online will be
able to listen to the Annual Meeting, ask questions and vote, all
in real time, provided that they are connected to the internet.
Guests can listen to the Annual Meeting but will not be able to
communicate or vote. In all cases, Shareholders must follow the
instructions set out in their applicable proxy or voting
instruction forms. If you have questions regarding your ability to
participate or vote at the Annual Meeting, please contact
Computershare at 1-800-564-6253.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION AND STATEMENTS
Certain statements contained in this report,
including statements that contain words such as "could", "should",
"can", "anticipate", "estimate", "intend", "plan", "expect",
"believe", "will", "may", "continue", "project", "potential" and
similar expressions and statements relating to matters that are not
historical facts constitute "forward-looking information" within
the meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
information and statements").
Undue reliance should not be placed on
forward-looking information and statements. Whether actual results,
performance or achievements will conform to our expectations and
predictions is subject to a number of known and unknown risks and
uncertainties which could cause actual results to differ materially
from our expectations. Such risks and uncertainties include, but
are not limited to:
- volatility in the price and demand
for oil and natural gas;
- fluctuations in the demand for
contract drilling, well servicing and ancillary oilfield
services;
- our customers’ inability to obtain
adequate credit or financing to support their drilling and
production activity;
- changes in drilling and well
servicing technology which could reduce demand for certain rigs or
put us at a competitive disadvantage;
- shortages, delays and interruptions
in the delivery of equipment supplies and other key inputs;
- the effects of seasonal and weather
conditions on operations and facilities;
- the availability of qualified
personnel and management;
- a decline in our safety performance
which could result in lower demand for our services;
- changes in environmental laws and
regulations such as increased regulation of hydraulic fracturing or
restrictions on the burning of fossil fuels and greenhouse gas
emissions, which could have an adverse impact on the demand for oil
and gas;
- terrorism, social, civil and
political unrest in the foreign jurisdictions where we
operate;
- fluctuations in foreign exchange,
interest rates and tax rates; and
- other unforeseen conditions which
could impact the use of services supplied by Precision and
Precision’s ability to respond to such conditions.
Readers are cautioned that the forgoing list of
risk factors is not exhaustive. Additional information on these and
other factors that could affect our business, operations or
financial results are included in reports on file with applicable
securities regulatory authorities, including but not limited to
Precision’s Annual Information Form for the year ended December 31,
2022, which may be accessed on Precision’s SEDAR profile at
www.sedar.com or under Precision’s EDGAR profile at www.sec.gov.
The forward-looking information and statements contained in this
news release are made as of the date hereof and Precision
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, except as required by
law.
About Precision
Precision is a leading provider of safe and
environmentally responsible High Performance, High Value services
to the energy industry, offering customers access to an extensive
fleet of Super Series drilling rigs. Precision has commercialized
an industry-leading digital technology portfolio known as Alpha™
that utilizes advanced automation software and analytics to
generate efficient, predictable, and repeatable results for energy
customers. Our drilling services are enhanced by our EverGreen™
suite of environmental solutions, which bolsters our commitment to
reducing the environmental impact of our operations. Additionally,
Precision offers well service rigs, camps and rental equipment all
backed by a comprehensive mix of technical support services and
skilled, experienced personnel.
Precision is headquartered in Calgary, Alberta,
Canada and is listed on the Toronto Stock Exchange under the
trading symbol “PD” and on the New York Stock Exchange under the
trading symbol “PDS”.
For further information, please contact:
Lavonne Zdunich, CPA, CADirector, Investor
Relations403.716.4500
800, 525 - 8th Avenue S.W.Calgary, Alberta,
Canada T2P 1G1Website: www.precisiondrilling.com
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