CALGARY, ALBERTA--(Marketwired - Aug. 10, 2016) - Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB), a growing environmental fluids processing and disposal company, is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of unsecured convertible debentures ("Debentures"). The Company has issued $2,402,000 of Debentures, including $150,000 of subscriptions from Ceiba officers and directors. The Company has paid an aggregate of $122,485 in finder's fees in connection with the Private Placement.

Each Debenture has an issue price of $1,000 per Debenture, matures on June 30, 2020 and will bear interest at a rate of 9.0% per annum, payable semi-annually in arrears. Each Debenture is convertible into Common Shares at the option of the holder at any time prior to redemption or maturity (as the case may be), at the price of $0.40 per Common Share (the "Conversion Price"), which is equivalent to 2,500 Common Shares for each $1,000 principal amount of Debentures, subject to adjustment in certain circumstances. The Debentures and common shares in the capital of Ceiba (the "Common Shares") issued upon conversion thereof will be subject to a four-month hold period from the date of issuance of the Debentures in accordance with applicable securities laws and, if required, the policies of the TSX Venture Exchange.

As previously disclosed, Ceiba has initiated civil work for the Kaybob facility that will expand its western Alberta presence and attract new waste fluid volumes in areas less affected by the current downturn in commodity prices. Ceiba intends to use the proceeds of this Private Placement for the construction of the Kaybob facility and general corporate purposes.

Reader Advisory

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.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, or a solicitation of an offer to buy, securities in the United States.

Forward-looking statements

Certain information regarding Ceiba in this news release, including statements pertaining to management's expectations of the use of proceeds, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with its ability to raise capital, risks associated with obtaining the necessary approvals, risks associated with facility construction and oilfield services operations, general risks associated with oil and gas exploration, development, production, marketing and disposal of waste, loss of markets, environmental risks, competition from other service providers, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward‐looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Ceiba's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( The forward‐looking statements or information contained in this news release are made as of the date hereof and Ceiba does not undertake any 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.

Contact Information:

Ceiba Energy Services Inc.
Ian Simister

Ceiba Energy Services Inc.
Peter Cheung
CFO and Corporate Secretary