Ridgeline Energy Services Inc.
TSX VENTURE : RLE

Ridgeline Energy Services Inc.

December 10, 2010 16:19 ET

Ridgeline Announces Private Placement

CALGARY, ALBERTA--(Marketwire - Dec. 10, 2010) - Ridgeline Energy Services Inc. ("Ridgeline" or the "Company") (TSX VENTURE:RLE), a Canadian publicly traded company www.ridgelinecanada.com announces its intention to proceed with a private placement of units.

Subject to regulatory approval, the Company intends to proceed with a private placement of up to 2,800,000 units. Each unit will consist of one common share and one full warrant. Each warrant shall be exercisable for a two (2) year period from date of issue at a price of $0.65. Pursuant to a previously filed price reservation 1,500,000 units will be offered at a price of $0.37 per unit raising up to $555,000. The balance of the private placement, being 1,300,000 units, will be offered at a price of $0.40 per unit raising up to a further $520,000. The private placement is expected to raise up to an aggregate of $1,075,000.

It is expected that insiders of the Company will be participating in the private placement.

The Company intends to use the net proceeds from the private placement to fund the capital cost of manufacturing waste water treatment equipment to be owned by the Company's 50% owned subsidiary the Eau Claire Partnership.

The Eau Claire Partnership is a 50/50 partnership between Ridgeline Eau Claire Inc., a wholly owned subsidiary of the Company and Danzik Applied Sciences LLC., a wholly owned subsidiary of Solverdi Worldwide Corporation, an American company.

About Ridgeline Energy Services, Inc.

Ridgeline provides environmental services to the Western Canadian energy industry through three operating subsidiaries: Ridgeline GreenFill Inc., Ridgeline Water Inc. and Ridgeline Environment Inc. These business units provide soil and wastewater treatment and environmental consulting solutions. With over a decade of serving the oil patch, Ridgeline brings experience, professionalism, and precision to the well site and the board room to assist producers in making the right choices for their business.

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."

Neither 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.

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