Ronald P. Mathison and MATCO Investments Ltd. File Early Warning Report Regarding Calfrac Well Services Ltd.

CALGARY, Jan. 8, 2018 /CNW/ - On January 8, 2018, Ronald P. Mathison ("Mathison"), the President, Chief Executive Officer and sole shareholder of MATCO Investments Ltd. ("MATCO"), acquired beneficial ownership and control of an aggregate of 473,300 common shares ("Common Shares") in the capital of Calfrac Well Services Ltd. (the "Corporation") through the facilities of the Toronto Stock Exchange ("TSX") for an aggregate price of $2,981,790, representing an average purchase price of $6.30 per Common Share. To the extent applicable, the Common Shares were acquired through the facilities of the TSX in reliance on the normal course purchase exemption set out in section 4.1 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.

Immediately prior to these acquisitions, Mathison and MATCO beneficially owned and controlled an aggregate of 28,361,021 Common Shares and 200,000 options to purchase Common Shares (the "Options"). If all of the Options were exercised, Mathison and MATCO would have then owned and/or had control or direction over 28,561,021 Common Shares, representing approximately 19.8% of the then issued and outstanding Common Shares (assuming no other Common Shares have been issued by the Corporation). Immediately following these acquisitions, Mathison and MATCO beneficially own and control an aggregate of 28,834,321 Common Shares and 200,000 Options. Immediately following these acquisitions, if all of the Options were exercised, Mathison and MATCO would then own and/or have control or direction over 29,034,321 Common Shares, representing approximately 20.2% of the then issued and outstanding Common Shares (assuming no other Common Shares have been issued by the Corporation).

The acquisition of Common Shares by Mathison was made for investment purposes.  Subject to applicable law, Mathison and MATCO may from time to time dispose of, or acquire, additional securities of the Corporation.

The Corporation is located at 411 – 8th Avenue S.W., Calgary, Alberta, T2P 4G8. Mathison and MATCO are located at 4900, 525 – 8th Avenue S.W., Calgary, Alberta, T2P 1G1. This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may be obtained upon request from Ryan Jennings at [phone]. 

SOURCE Matco Investments Ltd.

Ryan Jennings, [phone]