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Civeo Shareholders Approve Share Issuance Proposal for Pending Acquisition of Noralta Lodge

March 28, 2018 at 11:30 AM EDT

HOUSTON, March 28, 2018 (GLOBE NEWSWIRE) -- Civeo Corporation ("Civeo" or the "Company") (NYSE:CVEO), one of the largest global providers of workforce accommodations, logistics and facility management services to the natural resource industry, announced that at today’s special meeting of shareholders, the Company's shareholders approved the issuance of shares for the pending acquisition of Noralta Lodge Ltd. Approximately 75% of the Company's shares outstanding were voted, with approximately 98% of the votes cast in favor of the proposal.  The Company expects to close the acquisition on or about April 2, 2018, subject to the satisfaction of the remaining conditions to closing.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for housing hundreds or thousands of workers with its long-term and temporary accommodations and provides catering, facility management, water systems and logistics services. Civeo currently owns a total of 19 lodges and villages in operation in Canada and Australia, with an aggregate of more than 24,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at www.civeo.com.

Contacts:

Frank C. Steininger
Civeo Corporation 
Executive Vice President and Chief Financial Officer
713-510-2400

Marc Cunningham or
Jeffrey Spittel
FTI Consulting Inc.
713-353-5407

Source: Civeo Corporation