Seaway Energy Services Inc.
TSX VENTURE : SEW

Seaway Energy Services Inc.

April 16, 2009 18:58 ET

Seaway Announces Private Placement

CALGARY, ALBERTA--(Marketwire - April 16, 2009) - Seaway Energy Services Inc. ("Seaway") (TSX VENTURE:SEW) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of 1,900,000 units (each a "Unit") at a price of CDN $0.05 per Unit. Each Unit consists of one common share of Seaway and one non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one common share of Seaway (each a "Warrant Share") at a price of $0.10 per Warrant Share on or before the day that is 24 months from the date of the Private Placement. In accordance with applicable securities laws, the foregoing Units are subject to four-month hold period from the date of issuance.

Overview

Seaway is a Calgary-based corporation providing environmental consulting services to the oil and gas industry. These services include managing the construction of oil and gas leases and access roads, cleanup of leases and roads following drilling activity and reclamation of leases following drilling and production. Copies of the Corporation's documents may be obtained electronically from the SEDAR system at www.sedar.com or on the Company's website www.seawayenergy.com.

Seaway is listed on the TSX Venture Exchange under the symbol "SEW".

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

  • Seaway Energy Services Inc.
    Jerry Budziak
    President and CEO
    (403) 235-4486
    (403) 266-1181 (FAX)
    or
    Seaway Energy Services Inc.
    Suite 810
    808 - 4th Avenue SW
    Calgary, Alberta, Canada T2P 3E8
    Email: info@seawayenergy.com
    Website: www.seawayenergy.com