Ceiba Energy Services Inc. Announces $1.5 Million Senior Credit Facility and Completion of Management Warrant Exercise
06 March 2014 - 1:00AM
Access Wire
CALGARY, ALBERTA /
ACCESSWIRE / March 5, 2014 /
Ceiba Energy Services Inc. ("Ceiba", or the
"Company"), (TSXV:CEB) is
pleased to announced that it has entered into a senior credit
facility ("Credit Facility") with Alberta Treasury Branches ("ATB")
for the amount of $1.5 million. Proceeds of the loan will be used
for capital expenditures on the Company's facilities and for
general working capital.
"This senior credit facility
is another step forward for Ceiba in reducing our cost of capital
for our growth initiatives" said Shankar Nandiwada, CFO, "and we
are delighted to establish a lending relationship with
ATB."
Further, management of Ceiba
has completed the previously announced intention to exercise
490,000 warrants at an exercise price of $0.50 for total proceeds
to the company of $245,000.
About Ceiba Energy
Ceiba provides
specialized services to the energy sector, specifically to
companies involved in the exploration, extraction and
production of oil and natural gas in under serviced
market space throughout Western Canada. Ceiba develops and
constructs facilities in proximity to its customers to provide
treatment of crude oil emulsion, terminalling, storage and
marketing of oil and disposal of production water.
Reader Advisory
Neither the 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 the accuracy of this release.
Ceiba Energy Services Inc.
For
further information, please contact:
Shankar Nandiwada
CFO
Tel: 403-262-2783
Todd
Hanas
Investor
Relations Tel: 1-866-869-8072
Email: thanas@ceibaenergy.com
Please
visit Ceiba's website at: www.ceibaenergy.com
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