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Pason Chairman Closes Monetization Transaction

CALGARY, May 12, 2014 /CNW/ - Pason Systems Inc. (TSX: PSI) announces that Mr. 
James D. Hill, Chairman of the Board, has elected to close a certain 
monetization transaction by settling the transaction in shares. In May 2012, 
Mr. Hill entered into a series of transactions to monetize 1.6 million PSI 
shares with a Canadian chartered bank, which involved forward contracts with 
that bank. That transaction comes due on May 12, 2014, requiring Mr. Hill to 
settle in cash or settle by releasing the 1.6 million shares that were pledged 
as collateral under the monetization transaction. Mr. Hill has advised Pason 
and the bank that he intends to settle the transaction with the pledged shares 
previously delivered to the bank as collateral. 
The 1.6 million PSI shares subject to this transaction represent less than 2% 
of the total share capital of Pason. After settling the transaction, 
12,767,380 PSI shares will be controlled by Mr. Hill representing 15% of the 
outstanding common shares of PSI.  Mr. Hill has advised Pason that no further 
shares controlled by him are presently subject to any similar monetization 
transactions. 
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 the Company 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 
anticipated financial performance of Pason; anticipated price of Pason's 
securities; expectations or projections about future price of Pason's 
securities.  These forward-looking statements are based upon various 
underlying factors and assumptions, including those with regards to the state 
of the economy and the oil and gas exploration and production business, in 
particular; the Company'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. 
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. 
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).  Furthermore, the 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.
 

SOURCE  Pason Systems Inc. 
For more information about Pason Systems Inc., visit the company's  website 
atwww.pason.com or contact: 
Marcel Kessler President and CEO 403-301-3400 marcel.kessler@pason.com  Jon 
Faber Chief Financial Officer 403-301-3400 jon.faber@pason.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/May2014/12/c7765.html 
CO: Pason Systems Inc.
ST: Alberta
NI: OIL  
-0- May/12/2014 13:00 GMT
 
 
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