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| Home : Ceiba Energy Services Announces Non-Brokered Private Placement of Convertible Debentures |
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Jun 07
2016 |
Ceiba Energy Services Announces Non-Brokered Private Placement of Convertible Debentures |
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CALGARY, ALBERTA--(Marketwired - June 6, 2016) - Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB) is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of unsecured convertible debentures ("Debentures") for gross proceeds of up to $5,000,000. The proceeds of the Debenture issuance will be used for the development of the Company's Kaybob Class 1B waste fluid disposal facility, which is expected to be operational in late 2016, and for general corporate purposes. The Kaybob facility will add 180,000 m3/year of disposal capacity to Ceiba and is expected to generate incremental cash flow per share in 2017. Further, the Company announces its intention to repay the $7.3 million 12% convertible debentures due July 31, 2016 with cash on hand and borrowings from the Company's credit facility. |
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| Source:http://www.marketwired.com/mw/release.do?id=2131541&sourceType=3 |
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