CALGARY, ALBERTA--(Marketwired - June 2, 2016) -


A correction from source is being issued for a release that was disseminated today at 8:09 am EST for Trican Well Service Ltd. The second paragraph should have read "an additional 5.625 million Common Shares" instead of "an additional 9 million Common Shares". The corrected release follows.

Trican Well Service Ltd. ("Trican" or "the Corporation") (TSX:TCW) is pleased to announce it has amended the terms of its previously announced public offering to increase the size of the offering to 37.5 million common shares ("Common Shares") of Trican at a price of $1.60 per Common Share ("Issue Price") for aggregate gross proceeds of $60 million (the "Offering"). The Common Shares are being offered on a "bought deal" basis to a syndicate of underwriters led by RBC Capital Markets and Scotiabank (collectively, the "Underwriters").

Trican has also granted the Underwriters an option to purchase an additional 5.625 million Common Shares at the Issue Price to cover over-allotments, if any, and for market stabilization purposes (the "Over-Allotment Option"). The Over-Allotment Option is exercisable in whole or in part at any time until 30 days after the closing of the Offering.

The net proceeds from the Offering will be used to reduce outstanding debt and for general corporate purposes.

The Offering will be completed by way of a short form prospectus in all provinces of Canada, and in the United States pursuant to applicable exemptions from registration, and is expected to close on or before June 21 2016. Closing of the Offering will be subject to: (i)Trican entering into definitive agreements in respect of the agreement reached in principle with its bank lenders under Trican's revolving credit facility and the holders of its senior notes to make certain amendments to the applicable credit documentation announced on June 1, 2016 and the associated closing related thereto (the effectiveness of such amendments being subject to completion of the Offering), and, (ii)satisfaction of certain other customary closing conditions for the Offering, including regulatory and stock exchange approvals.

The Common Shares to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any state securities laws, and may not be offered or sold within the United States except in certain transactions exempt from the registration requirements of such act. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States or in any other jurisdiction where such offer is unlawful.

Cautionary Statements Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "intend", "estimate" and "estimated", and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking information in this news release relates, but is not limited to, statements with respect to the expected use of the net cash proceeds from the Offering, the timing of and conditions to closing of the Offering and the expected amendments to Trican's lending agreements, including conditions thereto and timing thereof.

The forward-looking information set out in this news release, is based on certain expectations and assumptions regarding, among other things, the absence of further changes and further economic conditions which may adversely affect Trican.

Forward-looking information is subject to known and unknown risks and uncertainties and other factors which may cause actual results, events and achievements to differ materially from those expressed or implied in such forward-looking information. In particular, completion of the transactions described herein is subject to the risk that the conditions to closing of the Offering which includes the amendments to Trican's lending agreements will not be fulfilled, or that other events will occur that prevent the consummation of these transactions substantially on the terms and within the timeline described herein or at all. Actual results could differ materially from those described in this press release as a result of the risk factors set forth under the section entitled "Risks Factors" in our Annual Information Form dated March 29, 2016. Readers are also referred to the risk factors and assumptions described in other documents filed by Trican from time to time with securities regulatory authorities.

Trican undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward looking information.

Headquartered in Calgary, Alberta, Trican provides a comprehensive array of specialized products, equipment and services that are used during the exploration and development of oil and gas reserves.

Please visit our website at

Contact Information:

Trican Well Service Ltd.
Dale Dusterhoft
President and Chief Executive Officer
(403) 266-0202
(403) 237-7716 (FAX)

Trican Well Service Ltd.
Michael Baldwin
Senior Vice President, Finance & CFO
(403) 266-0202
(403) 237-7716 (FAX)