Ceiba Energy Services Inc.

Ceiba Energy Services Inc.

June 24, 2015 16:44 ET

Ceiba Energy Services Announces Results of Annual General Meeting and Grant of Share Based Compensation

CALGARY, ALBERTA--(Marketwired - June 24, 2015) - Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB) is pleased to announce the voting results of its Annual General Meeting held today in Calgary, Alberta. Shareholders voted to elect the Company's six Board of Directors nominees, approve its Stock Option Plan and Share Unit Compensation Plan, and reappoint MNP LLP as auditors. All votes were approximately 75% or higher in favour of each director nominee and these matters.

Ceiba has uploaded its Annual General Meeting investor presentation onto its website at www.ceibaenergy.com.

Ceiba has granted a total of 89,881 share units to non-executive directors of the Company in lieu of all or a portion of their cash compensation. The share units have been granted pursuant to the Company's Share Unit Compensation Plan, have a $0.01 exercise price and will expire five years from the date of grant. Subsequent to this share unit grant, Ceiba will have a total of 89,881 share units outstanding.

Ceiba has granted a total of 1,296,000 stock options to officers and directors of the Company at an exercise price of $0.34. The stock options have been granted pursuant to Ceiba's 10% rolling stock option plan and will expire five years from the date of grant. All of the stock options vest as to one third thereof starting at the date of grant and at the next two anniversaries of the date of grant. Subsequent to this stock option grant, Ceiba will have a total of 9,401,000 stock options outstanding.

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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Contact Information

  • Ceiba Energy Services Inc.
    Ian Simister

    Ceiba Energy Services Inc.
    Peter Cheung
    CFO and Corporate Secretary