 CALGARY, Alberta, July 23, 2021 GLOBE NEWSWIRE -- Cathedral Energy Services Ltd. TSX:CET Cathedral and Precision Drilling Corporation TSX: PD, NYSE: PDS Precision are pleased to announce the closing of Cathedrals acquisition of Precisions directional drilling business the Transaction for a purchase price of 6,350,000. The Transaction includes operating assets and personnel of Precisions directional drilling business including its operations facility in Nisku, Alberta, along with an additional 3 million cash investment by Precision to support growth and expansion of Cathedral, including continuing the buildout of RapidFireTM measurement-while-drilling guidance systems and nDuranceTM drilling motors. Additionally, the Transaction is expected to enhance margins as expenses related to rental equipment used by Precision are replaced with proprietary Cathedral tools. 