Pason Issues Notice of Annual and special Meeting of Shareholders and management Information Circular

CALGARY, March 20, 2014 /CNW/ - Pason Systems Inc. (TSX: PSI) (the "Corporation") announces that it has filed a notice of its upcoming Annual and Special Meeting of Shareholders scheduled for May 7, 2014, along with management's information circular, on SEDAR and Pason's website, copies of which are available on www.sedar.com and www.pason.com and will be distributed to shareholders of record on March 19, 2014.

The Corporation also announces certain amendments to the Corporation's by-law in connection with its Annual and Special Meeting of Shareholders. The board of directors has adopted these by-law amendments, including amendments to the advance notice requirement, which were first adopted and disclosed on November 8, 2013. The by-law amendments are effective as of March 19, 2014. At the May 7, 2014 meeting of shareholders, shareholders will be asked to confirm the amended and restated by-law, a copy of which has been filed is and is available under the Corporation's profile at www.sedar.com.

Pason Systems Inc.
Pason Systems Inc. is a leading global provider of specialized data management systems for drilling rigs. Our solutions, which include data acquisition, wellsite reporting, remote communications, and web-based information management, enable collaboration between the rig and the office. Pason's common shares trade on the Toronto Stock Exchange under the symbol PSI.

Certain information regarding Pason contained herein may constitute forward-looking information under applicable securities law.  The words "anticipate", "expect", "believe", "may", "should", "will", "estimate", "project", "outlook", "forecast" or other similar words are used to identify such forward-looking information and statements.  Forward-looking statements in this document may include statements, express or implied regarding the anticipated business prospects and financial performance of Pason; expectations or projections about future strategies and goals for growth and expansion; expected and future cash flows and revenues; and expected impact of future commitments.  These forward-looking statements are based upon various underlying factors and assumptions, including the state of the economy and the oil and gas exploration and production business, in particular; the Corporation's business prospects and opportunities; and estimates of the financial and operational performance of Pason.

Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements.  Risk factors that could cause actual results or events to differ materially from current expectations include, among others, the ability of Pason to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of Pason's assets and businesses, the price of energy commodities, competitive factors in the energy industry, changes in laws and regulations affecting Pason's businesses, technological developments, and general economic conditions. Unpredictable or unknown factors not discussed in this cautionary disclaimer could also have material adverse effects on forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur.  Such forward looking statements, although considered reasonable by management as of the date hereof, may prove to be incorrect and actual results may differ materially from those anticipated.  Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Furthermore, any forward looking statements contained in this news release are made as of the date of this news release, and Pason does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Additional information on risks and uncertainties and other factors that could affect Pason's operations or financial results are included in Pason's reports on file with the Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com or through Pason's website www.pason.com).

SOURCE: Pason Systems Inc.

about Pason Systems Inc., visit the company's website at www.pason.com or contact:

Marcel Kessler
President and CEO
403-301-3400
[email protected]

Jon Faber
Chief Financial Officer
403-301-3400
[email protected]