Intercept Announces the Closing of the First Tranche of a Private Placement


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OTC:BB:IESCF / TSX.V:IES
08/01/2014 [ACCESSWIRE]

Vancouver, BC / ACCESSWIRE / August 1, 2014 / Intercept Energy Services Inc. (formerly Global Green Matrix Corp.) (the "Company", "IES") - TSX Venture: IES is pleased to announce that it has completed a tranche of a private placement financing of up to 20,000,000 Units at a price of $0.05 per share for gross proceeds of up to $1,000,000. Each unit will consist of one common share of the Company and one share purchase warrant that entitles the holder to purchase one additional common share of the Company at a price of $0.075 per share for a two year period following closing of the offering. The warrants are subject to an accelerated expiry stating that if at any time, after the standard 4 month hold period, the closing price of the Company's common shares on the TSX Venture Exchange (the "TSX") exceeds $0.15 for any 10 consecutive trading days, the warrant holder will be given notice that the warrants will expire 31 days following the date of such notice.

The Company has sold 9,670,000 Units for gross proceeds of $483,500 pursuant to this tranche. A finder's fee may be payable in accordance with the policies of the TSX on certain funds raised.

Proceeds from the placement will be used to expand the Company's business operations in the Bakken area of Williston, North Dakota and for general operating expenses.

All securities issued in connection with the Private Placement are subject to a four-month hold period. The offering is subject to the approval of the TSX.

INTERCEPT ENERGY SERVICES INC. (http://interceptenergy.ca)

Intercept Energy Services Inc. is an Oilfield Services Firm primarily focused on servicing oil and gas companies and their fracking operations. Through its wholly owned subsidiary, Intercept Rentals. Intercept operates a fleet of proprietary, highly efficient and economical frack water heating units. Intercept offers frack water heating services to various oil and gas companies that require heated water for their fracking operations.

INVESTOR RELATIONS AND COMMUNICATIONS

RANDY HAYWARD, PRESIDENT or BUCHALTER CONSULTING

Phone: 250-247-8689 or 604-687-8855 Toll free: 1 866 631 6537 Fax: 604-608-5442 stan.buchalter@buchalterconsulting.ca

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 Accuracy Of This News Release.

 

SOURCE: Intercept Energy Services Inc. 

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