Enseco Energy Services Corp.
TSX VENTURE : ENS

Enseco Energy Services Corp.

October 13, 2015 21:36 ET

Enseco Energy Services Corp. Announces Repayment Demand and Appointment of Receiver

CALGARY, ALBERTA--(Marketwired - Oct. 13, 2015) - ENSECO ENERGY SERVICES CORP (October 13, 2015) (TSX VENTURE:ENS) ("Enseco" or the "Company") announces that the Company's principal secured lender, HSBC Bank Canada ("HSBC") has demanded repayment of all of the obligations owing to it by the Company and issued a notice of intention to enforce its security under the Bankruptcy and Insolvency Act (Canada).

Following discussions between the Company and HSBC, the Company has consented to the early enforcement by HSBC of its security and to the appointment of PricewaterhouseCoopers Inc. (the "Receiver") as the receiver over the property of the Company. The application for the appointment of the Receiver is scheduled to be heard at 2:30 p.m. (Calgary time) on October 14, 2015 at the Calgary Courts Centre. The Receiver will be in charge of managing the day to day affairs of the Company during the period of its appointment and should be contacted with respect to any questions concerning the assets and liabilities of the Company.

All of the Company's board of directors and officers will resign as directors and officers of the Company before the appointment of the Receiver.

Neither the TSX Venture Exchange nor its Regulation Service 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

  • Enseco Energy Services Corp.
    Kent Devlin, CEO
    403-806-0088

    Enseco Energy Services Corp.
    Blair Layton, CFO
    403-806-0088