EcoMax Announces New Board Member/Delay in Private Placement
20 February 2011 - 11:52PM
Marketwired Canada
EcoMax Energy Services Ltd. ("EcoMax" or the "Company") (NEX BOARD:EES) is
pleased to announce the appointment of Jim Darcel to the Company's Board of
Directors. Mr. Darcel graduated in 1985 from the University of Manitoba with a
Bachelor of Arts degree and began his career with the Toronto Stock Exchange in
1986. He held positions in the economics and derivative markets departments,
including at the Toronto Futures Exchange until he returned to Winnipeg in 1990.
He was granted the right to use the Chartered Financial Analyst (CFA)
designation in 1994 and has been employed over the past few years with a number
of firms as an analyst, director, trading officer, investment counsel, portfolio
manager, and in other capacities. He is currently an independent investment
research analyst covering publicly traded companies in a number of broad
sectors, including natural resources, exploration and development, small energy,
and emerging technologies. Mr. Darcel is a director of Newcastle Minerals Ltd.
and Mainstream Minerals Corporation.
EcoMax announces that it expects the closing of its previously announced
Offering will be delayed until March 18, 2011. The Offering is to issue up to
4,000,000 units ("Units") at a price of $0.05 per Unit in a non-brokered private
placement. Each Unit consists of one common share of the Company ("Common
Share") and one share purchase warrant ("Warrant"). Each Warrant shall entitle
the holder to acquire one Common Share at a price of $0.10 per share for a
period of 12 months from the date of issuance.
This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the anticipated timing for the
closing of the Offering. The forward-looking statements contained in this
document are based on certain key expectations and assumptions made by EcoMax,
including with respect to the anticipated timing for closing the Offering.
Although EcoMax believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because EcoMax can give no assurance
that they will prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. These forward-looking statements are based on current
expectations that involve a number of risks and uncertainties, which could cause
actual results to differ materially from those anticipated. These risks include,
but are not limited to, the failure to obtain necessary regulatory approvals,
risks and uncertainties that settlement terms with creditors cannot be
successfully negotiated and that strategic alternatives to realize value may not
be available on terms satisfactory to the Company or at all.
Readers are cautioned not to place undue reliance on forward-looking statements
as there can be no assurance that the plans, intentions or expectations upon
which they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated. Forward-looking
statements contained in this press release are expressly qualified by this
cautionary statement.
The forward-looking statements contained in this press release are made as of
the date hereof and EcoMax undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.
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