Computalog terminates equity offering.CALGARY, Alberta--(BUSINESS WIRE)--May 13, 1997--Computalog announces that it has determined not to proceed with the issue of 3,450,000 common shares of the Company as contemplated by the preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders filed with Canadian and United States securities commissions on March 7, 1997. The Company is assessing debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay arrangements as a method of funding the Company's growth initiatives. Computalog provides wellbore knowledge and solutions through its electric wireline and directional drilling services. These services enable oil and gas producers to manage risk and maximize production. The Company's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (symbol CGH CGH Comparative Genomic Hybridization CGH Changi General Hospital (Singapore) CGH Computer-Generated Hologram CGH Community General Hospital (Syracuse, NY) ) and the Nasdaq National Market (symbol CLTDF). CONTACT: Mr. Douglas F. Robinson President, Chief Executive Officer 403/265-6060 or Mr. Leonard A. Comez Vice President, Chief Financial Officer 403/265-6060 |
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