CKK Cordy Oilfield Services Inc

Cordy Oilfield Services Inc. ("Cordy" or the "Corporation") (TSX VENTURE:CKK)
announces that it has entered into a loan and security agreement with Nations
Fund I, LLC (the "Lender"), an arm's length lender, pursuant to which it may
borrow the maximum amount of $12.5 million (the "Loan"). 


An initial advance of the Loan in the amount $10.25 million (the "Initial
Advance") was obtained by Cordy today. At Cordy's option, and subject to the
satisfaction of certain conditions precedent set out in the loan agreement, up
to an additional $2.25 million may be borrowed. A security interest in certain
of Cordy's equipment was provided to the Lender. The Loan is due and payable on
June 9, 2020 and bears interest at the rate of 12% per annum. 


The amount of $600,000 (the "Holdback") was held back from the Initial Advance
and deposited with Cordy's legal counsel, as escrow agent. The Holdback is
releasable to Cordy upon the satisfaction of certain conditions related to
Cordy's fixed charge coverage.


Cordy used a portion of the proceeds of the Loan to repay all indebtedness owed
to its former principal lender. The balance of the proceeds will be used to pay
transaction expenses and for general working capital.


Additional information on Cordy is available on our website www.cordy.ca or on
SEDAR at www.sedar.com. 


Forward-Looking Statements

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "may", "will",
"should", "believe", "plans", "intends" and similar expressions are intended to
identify forward-looking information or statements. All statements included
herein, other than statements of historical fact, constitute forward-looking
information and such information involves various risks and uncertainties. There
can be no assurance that such information will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
information. A description of certain assumptions used to develop such
forward-looking information and a description of risk factors that may cause
actual results to differ materially from forward-looking information can be
found in the Corporation's disclosure documents on the SEDAR website at
www.sedar.com. The Corporation does not undertake to update any forward-looking
information except in accordance with applicable securities laws.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
For general or investor relations information,
please contact:
David Mullen, Chairman and CEO
(403) 266-2067
(403) 266-2087 (FAX)
dmullen@cordy.ca
www.cordy.ca

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