Lonestar West Inc.
TSX VENTURE : LSI

Lonestar West Inc.

August 31, 2009 16:53 ET

Lonestar Amends Bridge Financing Term

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2009) - Lonestar West Inc. (TSX VENTURE:LSI) ("Lonestar" or "the Company") announces that further to its press release dated July 13, 2009 announcing the completion of a subordinated secured debenture financing in the aggregate amount of $180,000 (the "Loan") carrying an annual interest rate of 16% and having a maturity date of August 31, 2009, the Company and the debenture holders thereof have agreed to extend the maturity date of the Loan to August 31, 2011. All other terms of the Loan remain unchanged. The obligations under the debenture are secured by Lonestar's grant of a security interest in its assets (including the assets of its subsidiaries) in favour of the debenture holders (the "Security Interest"). The Security Interest shall be subordinate and subject to any loan or credit facility and any replacement thereof between Lonestar and a subsequent lender, at the Company's discretion. None of the Company's common shares or securities convertible into common shares are being issued in connection with the Loan and no commissions or finder's fees are applicable in connection with the Loan either.

About Lonestar West

The Company is an Alberta based company providing industrial vacuum services. The Company currently operates a fleet of six vacuum trucks and two hydro-vac trucks. The Company's customers are primarily engaged in oil and natural gas exploration and development and mid-stream infrastructure construction and maintenance.

For more information please visit the Lonestar West website at www.lonestarwest.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information