Hanwei Energy Services Corp.
TSX : HE

Hanwei Energy Services Corp.

March 18, 2015 19:30 ET

Hanwei Energy Completes Fully Subscribed Rights Offering for Total Proceeds of $7,282,546

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 18, 2015) - Hanwei Energy Services Corp. (TSX:HE) ("Hanwei" or the "Company"), today announced that it has completed its previously announced rights offering (the "Rights Offering"), which expired on March 17, 2015. Hanwei received gross proceeds of $7,282,546 from the Rights Offering.

Pursuant to the Rights Offering, Hanwei will issue in total 97,100,617 common shares (the "Common Shares") through the Rights Offering, which represents 100% of the maximum number of Common Shares available under the Rights Offering. The Company's total issued and outstanding Common Shares will increase to 194,201,234.

About Hanwei Energy Services Corp.

Hanwei Energy Services Corp.'s principal business operations are in two complementary key segments of the oil and gas industry as both an equipment supplier to the industry (as a leading manufacturer of high pressure, fiberglass reinforced plastic ("FRP") pipe products and associated technologies serving major energy customers in the global energy market) and as an operator of its producing oil and gas mineral rights at its Leduc Lands in Alberta.

www.hanweienergy.com

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION

Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions a description of which is set out in the risk factors section of the Company's Amended and Restated Annual Information Form dated February 2, 2015 and Management Discussion and Analysis for the year ended March 31, 2014 both of which are filed with Canadian securities regulators and available on SEDAR at www.sedar.com. The forward-looking information in this press release describes the Company's expectations as of the date of this press release.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, THE COMPANY DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED BY APPLICABLE SECURITIES LEGISLATION.

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