The corporation also intends to complete a non-brokered private placement offering of 10% secured subordinated convertible debentures.
If successfully implemented, the plan will significantly reduce the company's debt obligations and materially improve the company's overall capitalization and liquidity.
Paradigm also closed on the purchase of Cam Trucking and Well Services, the company announced on Aug. 19.
CP Energy consists of CP Well Testing Inc., a provider of flowback services, and Fluid Management Holdings Inc., an operator of transport trucks and disposal wells.
Blaze has settled with its majority shareholder for and in consideration of its 76% stake in the company.
Additionally, the company appointed Scot Cohen to the position of executive chairman.
Calgary-based Veraz Petroleum Ltd. announces changes to Birch Lake financing and impact on previously announced arrangement.
Gibson Energy ULC has replaced and repriced its existing Term Loan B and expanded its revolving credit facility, all through an amendment of its existing credit agreement.
SMF Energy Corporation announced that the company and its subsidiaries, H & W Petroleum Company Inc., SMF Services Inc., and Streicher Realty Inc., have filed for Chapter 11.
An aggregate of $172.8 million in principal amount, or 99.8%, of the Existing Notes were tendered in the exchange offer, which expired on March 9.