ESI Announces Stock Option Grant

CALGARY, March 1, 2017 /CNW/ - ESI Energy Services Inc. (CSE: OPI) ("ESI" or the "Company") announces that pursuant to the Company's Equity Incentive Plan adopted February 27, 2017, an aggregate of 2,230,104 options have been granted to directors, officers and senior employees of the Company to purchase ESI common shares at an exercise price of $0.50 per share. The options granted vest over a period of two years and expire on February 27, 2022, five years after the grant date.  All of the options granted shall be governed in accordance with the terms of the Company's Equity Incentive Plan and are subject to CSE approval. 

About ESI

ESI is a publically traded company listed on the Canadian Securities Exchange under the stock symbol "OPI". ESI is a pipeline equipment rental and sales company with principal operations in Leduc, Alberta and Phoenix, Arizona. The Company, through its operating subsidiaries, ESI Pipeline Services Ltd. ("ESIPSL") and Ozzie's Pipeline Padder, Inc. ("OPI"), supplies (rentals and sales) backfill separation machines ("Padding Machines") to mainline pipeline contractors and utility contractors as well as oilfield pipeline and construction contractors.   

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. The use of the word "will", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions inherent in forward-looking information, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE ESI Energy Services Inc.

For further information: Robert Dunstan, Chief Executive Officer, Phone: [phone], Email: [email protected]