Ceiba Energy Services Inc.

Ceiba Energy Services Inc.

March 08, 2016 20:08 ET

Ceiba Energy Services Announces Share Unit Grant

CALGARY, ALBERTA--(Marketwired - March 8, 2016) - Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB) has today granted a total of 318,750 share units to executives and non-executive directors of the Company in lieu of approximately $57,000 of cash compensation related to the fourth quarter 2015, calculated based on the weighted average trading price of Ceiba shares for the fourth quarter. This represents approximately 90% of the non-executive directors' compensation and 10% of executive management salaries for the quarter. 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 713,681 share units outstanding.

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 information regarding Ceiba in this news release, including management's assessment of its future development plans and access to various external sources of capital, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with facility construction and oilfield services operations, general risks associated with oil and gas exploration, development, production, marketing and disposal of waste, loss of markets, environmental risks, competition from other service providers, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward‐looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Ceiba's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). The forward‐looking statements or information contained in this news release are made as of the date hereof and Ceiba does not undertake any obligation to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Contact Information

  • Ceiba Energy Services Inc.
    Ian Simister

    Ceiba Energy Services Inc.
    Peter Cheung
    CFO and Corporate Secretary