Ceiba Energy Services Inc. Announces $1.5 Million Senior Credit Facility and Completion of Management Warrant Exerciseadmin
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.
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
Investor Relations Tel: 1-866-869-8072
Please visit Ceiba’s website at: www.ceibaenergy.com
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Posted: March 5th, 2014 under ACCESSWIRE.