Ceiba Energy Services Announces Closing of $16.1 Million Bought Deal Equity Private Placement

CALGARY, ALBERTA--(Marketwired - July 24, 2014) -

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Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB) is pleased to announce that it has closed its previously announced $16.1 million bought deal financing of 23,000,000 common shares of the Company ("Common Shares") at $0.70 per Common Share on a private placement basis (the "Private Placement") with a syndicate of underwriters co-led by Peters & Co. Limited and Clarus Securities Inc. and including Canaccord Genuity Corp., Scotia Capital Inc. and Jennings Capital Inc. The Common Shares issued under the Private Placement will have a hold period of four months plus one day from today. Ceiba now has 101,923,327 Common Shares outstanding.

Ceiba intends to use the net proceeds from the Private Placement to reduce indebtedness, expand the capacity of existing facilities, advance greenfield projects and for general working capital purposes.

About Ceiba Energy Services Inc.

Ceiba provides specialized services to the energy sector, specifically to companies involved in the exploration, extraction and production of oil and natural gas in Western Canada. Ceiba develops and constructs facilities in proximity to its customers to provide treatment of crude oil emulsion, terminalling, storage and marketing of oil and disposal of production water.

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Forward-looking statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Ceiba and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications to statements made by Ceiba. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Ceiba does not intend and undertakes no obligation to update these forward-looking statements, except as required under applicable securities laws.