BRIEF-High arctic energy services announces acquisition of Tervita Corp's production services division

Mon Aug 29, 2016 9:34am EDT
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Aug 29 (Reuters) - High Arctic Energy Services Inc

* High Arctic Energy Services Inc announces acquisition of Tervita Corporation's production services division and executive retirement

* Deal for an aggregate purchase price of $42.8 million, payable in cash

* Tim Braun has informed Co of his intent to retire

* Decision was made to proceed immediately to appoint Thomas Alford as interim president and CEO

* Alford will remain on high Arctic's board

* Deal to be completed with existing cash, debt facility resources, with no current equity dilution to Co's shareholders Source text for Eikon: Further company coverage: