CALGARY, AB, Jan. 2, 2024 /CNW/ - Pason Systems Inc. (TSX: PSI) ("Pason" or the "Company") is pleased to announce that effective January 1, 2024, the Company has closed the previously announced exercise of a call option for the purchase of all remaining issued and outstanding common shares of Intelligent Wellhead Systems Inc. ("IWS") not previously held by Pason for total consideration of $88.2 million (the "Transaction"). As part of the Transaction, Pason assumed net debt of approximately $7.0 million. The Transaction was funded by Pason with cash on hand.
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