Civeo Announces Purchase of Preferred Shares

HOUSTON & CALGARY, Alberta–(BUSINESS WIRE)–Civeo Corporation (NYSE:CVEO) announced today that the Company has agreed to repurchase 40% of its outstanding Class A Series 1 preferred shares. The preferred shares are mandatorily convertible into common shares in April 2023. The preferred shares repurchased, which include accrued dividends, are convertible into approximately 999,000 common shares, or approximately 6% of the Company’s fully diluted common shares outstanding. The aggregate purchase