CEB

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB)
announced today that the Company has entered into an agreement under which a
syndicate led by Clarus Securities Inc. and including Canaccord Genuity Corp.,
Scotia Capital Inc. and Jennings Capital Inc. (collectively, the "Underwriters")
has agreed to buy 18,600,000 special warrants of the Company (the "Special
Warrants") at a price of C$0.43 per Special Warrant (the "Issue Price") for
gross proceeds to the Company of C$7,998,000 (the "Offering"). The Company has
also granted the Underwriters an option (the "Option") to purchase up to an
additional 2,790,000 Special Warrants from the Company on the same terms, which
option is exercisable at any time up to 48 hours prior to the closing of the
Offering.


Each Special Warrant will be exercisable at any time after the closing of the
Offering, for no additional consideration, to acquire one common share of the
Company (a "Common Share"). All unexercised Special Warrants will be deemed to
be exercised, for no additional consideration, upon the earlier of: (a) the date
that is four months and one day following the Closing Date (as defined below),
and (b) the fifth business day after a receipt or deemed receipt, as applicable,
is issued for a (final) prospectus (the "Qualification Prospectus") by the
securities regulatory authorities in each of Alberta, British Columbia, Manitoba
and Ontario for distribution of the Common Shares issuable upon exercise of the
Special Warrants. The Company has agreed to use its commercially reasonable
efforts to obtain such receipt.


The private placement is expected to close on or about April 15, 2014 (the
"Closing Date").


The gross proceeds raised from the Offering will be C$7,998,000 (C$9,197,700 if
the Option is exercised in full). The Offering is subject to the approval of the
TSX Venture Exchange. The Special Warrants will be offered in the provinces of
Alberta, British Columbia, Manitoba and Ontario, and in such other
jurisdictions, including the United States and in those jurisdictions outside of
Canada which are agreed to by the Company and the Underwriters, where the
Special Warrants can be issued on a private placement basis, exempt from any
prospectus, registration or other similar requirements.


The Underwriters shall be paid a cash fee equal to 6% of the gross proceeds of
the Offering. 


Ceiba intends to use the net proceeds of the Offering for corporate development
and general working capital purposes. 


The securities being offered have not, nor will they be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of securities
in the United States.


About Ceiba 

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.


Please visit Ceiba's website at: www.ceibaenergy.com

Forward-looking statements

Certain statements made herein may constitute forward-looking statements. These
statements relate to future events or the future economic performance of Ceiba
and carry known and unknown risks, uncertainties and other factors that may
appreciably affect their results, economic performance or accomplishments when
considered in light of the content or implications to statements made by Ceiba.
Actual events or results could be significantly different. Accordingly,
investors should not place undue reliance on forward-looking statements. Ceiba
does not intend and undertakes no obligation to update these forward-looking
statements, except as required under applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ceiba Energy Services Inc.
Shankar Nandiwada
CFO
403-262-2783


Ceiba Energy Services Inc.
Todd Hanas
Investor Relations
1-866-869-8072
thanas@ceibaenergy.com
www.ceibaenergy.com

Ceiba Energy Services Inc. (TSXV:CEB)
Historical Stock Chart
From Jun 2024 to Jul 2024

Ceiba Energy Services Inc. (TSXV:CEB)
Historical Stock Chart
From Jul 2023 to Jul 2024