Logan International Inc. Announces Receipt of Shareholder Approval for Acquisition by Rubicon - Seite 2

About Logan

Logan International Inc. and subsidiaries manufacture and sell a comprehensive line of tools used in worldwide drilling and production activities. Our quality fishing and intervention tools, including retrieving, stroking, and remedial tools, and power swivels are used in well work‐over, intervention, drilling, and completion activities across the globe. Logan manufactures and sells high‐performance poly‐crystalline diamond compact (PDC) cutters and bearings, packers, bridge plugs, and other completion products. Our completion technology and conventional completion production products and services are focused on production optimization including sand‐laden, heavy oil wells. Logan also provides proprietary tools that enhance the effectiveness of horizontal drilling. The companies of Logan International provide unmatched quality service and delivery to benefit our clients.

Forward‐Looking Statements

This press release contains forward‐looking statements. These statements relate to future events or future performance of Logan. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "propose", "expect", "potential", "continue", and similar expressions, are intended to identify forward‐looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. The forward‐looking statements set forth in this press release are the statements regarding the anticipated closing date of the Arrangement.

The forward looking statements contained in this press release are based on certain key expectations and assumptions made by Logan, including but not limited to, the assumption that the Arrangement and all required approvals will be completed within the timeline anticipated by Logan and that the parties to the Arrangement will be able to satisfy, in a timely manner, the other conditions to the closing of the Arrangement. In addition, there are no assurances that the Arrangement will be completed, and, if completed, that it will be completed on the timeline set forth in this press release. Although Logan believes that the expectations and assumptions on which the forward‐looking statements are based are reasonable, undue reliance should not be placed on the forward‐looking statements because we can give no assurance that they will prove to be correct. Many factors could cause Logan's actual results, performance, or achievements to materially differ from those described in this press release. Risks and uncertainties inherent in the nature of the Arrangement include, but are not limited to, the failure of Logan to obtain court and other third party approvals or to otherwise satisfy the conditions to the Arrangement in a timely manner, or at all. Readers are cautioned that the foregoing list of risk factors is not exhaustive and additional information on other factors that could affect the operations or financial results of Logan are included in Logan's Annual Information Form for the year ended December 31, 2015 filed on www.sedar.com under Logan's profile. Should one or more risks or uncertainties materialize or should assumptions underlying forward‐looking statements prove incorrect, actual results may vary materially from those described in this press release. The forward‐looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. These statements speak only as of the date of this press release. Logan does not intend and does not assume any obligation to update these forward‐looking statements to reflect new information, subsequent events or otherwise, except as required by law. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein in any jurisdiction.