11:51 AM EST - Orbit Garant Drilling Inc. : announced that it has acquired Lantech Drilling Services Inc. for a purchase price of $12.0 million, consisting of $8.38 million in cash, the equivalent of $1.22 million in common shares of Orbit Garant at an issue price of $5.62 per share (based on the 30-day average closing listed price) and an earn-out portion of up to $2.4 million payable over three years based on targeted annual EBITDA performance, the whole subject to working capital adjustments. Orbit Garant Drilling Inc.
shares T.OGD are trading up $0.05 at $5.55.
