Group 1 - Source Energy Services held its annual meeting of shareholders on May 9, 2025, where results were reported [1] - All proposed nominees for the board of directors were elected, with Scott Melbourn receiving 99.98% of votes for, and Chris Johnson receiving 98.59% [2] - Shareholders approved the resolution to fix the number of directors at four, with 81.95% approval, and the appointment of Ernst & Young LLP as the auditor with 99.99% approval [3] Group 2 - Source Energy Services specializes in the integrated production and distribution of frac sand and other bulk completion materials [4] - The company offers an end-to-end solution for frac sand, supported by its mines and processing facilities in Wisconsin and Peace River, along with a terminal network in Western Canada [4] - Source's logistics platform enhances supply reliability and ensures timely delivery of frac sand and other materials to well sites [5]

Core Viewpoint - Source Energy Services Ltd. has announced the implementation of a Normal Course Issuer Bid (NCIB) to repurchase its Common Shares, aiming to enhance shareholder value by reducing the number of outstanding shares [1][5]. Summary by Sections NCIB Details - The NCIB will commence on May 13, 2025, and will terminate on the earlier of May 12, 2026, or when the maximum number of shares is purchased, which is the lesser of $5 million worth of shares or 750,000 Common Shares [3]. - As of April 30, 2025, there were 13,545,055 Common Shares outstanding, and the average daily trading volume for the past six months was 29,156 Common Shares, allowing a maximum daily repurchase of 7,289 shares [2][3]. Automatic Securities Purchase Plan (ASPP) - The company plans to enter into an ASPP with Acumen Capital Finance Partners Limited, allowing repurchases during regulatory restrictions or blackout periods, with Acumen determining the timing and number of shares purchased [4]. Management's Perspective - The Board of Directors and management believe the market price of Source's Common Shares does not reflect their underlying value, and the NCIB is a strategy to allocate capital effectively [5]. - Decisions regarding the timing and size of purchases under the NCIB will be based on various factors, including liquidity, financial performance, and market conditions [6]. Company Overview - Source Energy Services focuses on the integrated production and distribution of frac sand and other bulk completion materials, providing an end-to-end solution supported by its mining and processing facilities [7]. - The company's logistics platform enhances the reliability of supply and timely delivery of materials to well sites [8].