09:46 AM EST - CanElson Drilling Inc. : said it signed a definitive Asset Purchase agreement, as purchaser, with CCS Corp., for the purchase of a telescopic double drilling rig rated at 3600m complete with two mud-pumps and a top drive and a complete mobile free standing single service rig for cash proceeds of $6.0 million. The purchase of the rigs will be financed from existing cash resources and bank financing. Additionally, the company signed a commitment letter with a Canadian chartered bank, whereby the bank will make available $10.0 million under an evergreen revolving term loan and an operating loan of $5.0 million. The financing is expected to close on or about December 17, 2009. CanElson Drilling Inc.
shares V.CDI are trading even at $2.10.
