Mr. Jason Theiss reports

BRI-CHEM ANNOUNCES AGREEMENTS FOR EXTENSION AND INCREASE OF ITS SENIOR BANKING FACILITY AND REFINANCING OF ITS SUBORDINATED DEBT

Bri-Chem Corp. has reached an agreement with Canadian Imperial Bank of Commerce to increase and extend the term of its asset-based lending facility (ABL facility) and has also reached an agreement to refinance its current subordinate debt loan with a new five-year term loan with a Toronto-based mid-market term debt lender.

Closing of the new ABL facility and of the refinancing of the subordinate debt loan is expected to occur concurrently on or about Nov. 6, 2017, subject to final closing conditions. In the meantime, the maturity date of the existing ABL facility has been extended to Nov. 15, 2017, to allow sufficient time to meet such closing conditions.

About Bri-Chem Corp.

Bri-Chem has established itself, through a combination of strategic acquisitions and organic growth, as the North American industry leader for wholesale distribution and blending of oil field drilling, completion, stimulation and production chemical fluids. It sells, blends, packages and distributes a full range of drilling fluid products from 28 strategically located warehouses throughout Canada and the United States.