Ceiba Energy Services Inc.
TSX VENTURE : CEB

Ceiba Energy Services Inc.

July 03, 2014 11:33 ET

Ceiba Energy Services Announces Increase to Bought Deal Private Placement from C$12.0 Million to C$16.1 Million

CALGARY, ALBERTA--(Marketwired - July 3, 2014) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB) is pleased to announce that it has increased its previously announced bought deal financing 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. whereby the Company will now issue 23,000,000 common shares of the Company (the "Common Shares") at a price of C$0.70 per Common Share for gross proceeds to the Company of C$16,100,000 (the "Offering").

The Offering is expected to close on or about July 24, 2014 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The Common Shares issued under the Offering will have a hold period of four months plus one day.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

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 under serviced market space throughout 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.

Reader Advisory

Neither the 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 the accuracy of this release.

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.

Contact Information

  • Ceiba Energy Services Inc.
    Ian Simister
    President
    403-262-2783

    Ceiba Energy Services Inc.
    Peter Cheung
    CFO and Corporate Secretary
    403-262-2783