Pason Systems Inc. (TSX: PSI) (“Pason” or the “Company”) is pleased to announce its intention to exercise a call option for the purchase of all remaining issued and outstanding common shares of Intelligent Wellhead Systems, Inc. (“IWS”) not currently held by Pason for total consideration of $88.3 million (the “Transaction”). As part of the Transaction, Pason will also assume net debt of approximately $7.0 million at closing. The Transaction is expected to close on January 1, 2024, subject to customary closing conditions, and will be financed with cash on hand. As at September 30, 2023, Pason held $178.4 million in Total Cash.

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