CALGARY, July 11, 2018 /CNW/ - New West Energy
Services Inc. (TSXV: NWE), an oil and gas and environmental
services company focused on Western
Canada, today announced that it has closed agreements with
William A. Rand, the company's Lead
Director and largest shareholder, and Andrew Johns, an investor and shareholder of
NWE, whereby Messrs. Rand and Johns provided loans to NWE in the
amount of $200,000 and $150,000, respectively. The loans have a
term of 15 months and bear interest at a rate of 8% per annum
calculated and compounded monthly.
As partial consideration for providing the loans, NWE issued to
Messrs. Rand and Johns 571,429 and 428,571 common shares,
respectively, pursuant to TSX Venture Exchange ("TSXV") Policy 5.1
– Loans, Loan Bonuses, Finder's Fees and Commissions.
All common shares issued to Messrs. Rand and Johns are subject to a
hold period of four months and a day.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE New West Energy Services Inc.