Ridgeline Energy Services Inc.

Ridgeline Energy Services Inc.

November 25, 2010 12:46 ET

Ridgeline Announces Warrant Exercise and Amendment of Warrant Terms

CALGARY, ALBERTA--(Marketwire - Nov. 25, 2010) - Ridgeline Energy Services Inc. ("Ridgeline" or the "Company") (TSX VENTURE:RLE) is pleased to announce that 100% of the warrants issued under the Company's June 1, 2010 private placement were exercised generating an additional $1,300,000 of capital through the issuance of 5,200,000 common shares. The warrant exercise will enable the Company to move forward with expansion plans in frac water and tailing ponds treatment without a negative effect on cash flow. The Company wishes to thank its shareholders for their continued support.

Ridgeline has also received Exchange approval to amend the terms of the warrants issued under the August 24, 2010 private placement (the "August Warrants"). The amendment permits the Company's management to use its discretion to give effect to the deemed exercise provisions of the August Warrants. Prior to the amendment the August Warrants would have been deemed exercised effective November 12, 2010. With the approved amendment the Company wishes to advise holders of the August Warrants that deemed exercise is postponed.

The Company may elect to proceed with the deemed exercise of the August Warrants at any time during the balance of the two year term of the August Warrants. Upon such an election the Company will issue a Notice of Deemed Exercise and holders of the August Warrants will have 20 calendar days to complete the exercise of the warrants.

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.

Contact Information

  • Ridgeline Energy Services Inc.
    Clint Wolstenholme
    (403) 806-2380
    Hamza Thindal Capital Corp.
    Kam Thindal
    (604) 488-9875