05:24 PM EDT, 04/01/2026 (MT Newswires) -- ACT Energy Technologies ( ACXAF ) said after Wednesday's close it has completed its previously announced acquisition of SB Directional Services for about US$47 million, giving it "a substantially expanded presence in the United States market."

The company said the purchase price was paid through the issuance of 3.62 million shares and US$30 million in cash, funded from existing working capital and an expanded credit facility.

In connection with the acquisition, ACT amended its credit agreement with ATB Financial, as administrative agent, and ATB and Royal Bank of Canada as co-lead arrangers, increasing its syndicated facility to about C$145 million from C$125 million and boosting U.S. dollar availability to US$30 million from US$10 million.

The U.S. dollar facilities include a US$10 million revolving line and a new US$20 million delayed-draw term loan with a three-year term and equal quarterly repayments of US$1.67 million, intended to refinance a US$20 million exchangeable promissory note maturing in July 2026.

ACT said it will continue to use the SB Directional name and brand in the US, and the SB Directional management team will continue to lead their team.

Shares of the company closed down C$0.35 to C$6.75 on Toronto Stock Exchange on Wednesday.