VANCOUVER, BC / ACCESSWIRE / May 28, 2014 / INTERCEPT ENERGY SERVICES INC. ("Intercept" or the "Company") - TSX Venture: IES -OTC:BB - IESCF announces a non-brokered private placement offering of up to 10,000,000 units at $0.05 per unit for proceeds of up to $500,000. Each unit will consist of one common share of the Company and one share purchase warrant that entitling 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 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.
Proceeds from the placement will be used 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 will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. A finder's fee may be payable in accordance with the policies of the TSX.
INTERCEPT ENERGY SERVICES INC. (http://interceptenergy.ca)
Intercept Energy Services Inc. is an oilfield service company primarily focused on servicing oil and gas companies, including their fracking operations. The Company operates a growing number of proprietary, highly efficient and economical water heating units in Western Canada and North Dakota making our technology the safest and most environmentally friendly heating units available.
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SOURCE: Intercept Energy Services Inc.