DIVERGENT Energy Services Corp.: Update on Revolving Credit Facility

CALGARY, ALBERTA--(Marketwired - Oct. 2, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

DIVERGENT Energy Services Corp. (the "Corporation") (TSX VENTURE:DVG) announces that it will not complete the CAD$17.5 million revolving credit facility (the "Credit Facility") previously announced on July 2, 2014. As previously announced, the completion of the Credit Facility was subject to the successful completion of outstanding due diligence, the completion of legal documentation by the lender, satisfaction of other conditions precedent in favour of the lender, the approval of debentureholders and the release of their general security agreement over the assets of the Corporation, regulatory approvals and the approval of the Corporation's Board of Directors.

Certain debentureholders, without whom the required 66.67% majority approval could not be obtained, were not in agreement with the terms of the subordination agreement proposed by the lender. Without the subordination of the debentures, the terms of the Credit Facility could not be met, and the parties discontinued negotiations. The Corporation is not obligated to pay a break fee and is responsible only for the legal fees incurred by the lender.

The Corporation intends to seek alternative financing options that will meet with debentureholders' approval.

Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of specialized products and services that are used in the energy, mining, and industrial & agricultural water industries.

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 accuracy of this release.