TSXV - "GLK"
Shares Outstanding 20,542,626
CALGARY, Feb. 13 /CNW/ - Global Energy Services Ltd. (GLK - TSX Venture),
an innovative oilfield service company that provides production services and
communications solutions to the oil and gas industry, is pleased to announce
the closing of its previously announced private placement. This private
placement consists of 1,700,000 units in the capital of the company for gross
proceeds of up to $306,000 at a price of $0.18 per unit. The Offering was
fully subscribed by officers, directors, and employees of the Company.
Each unit will consist of one common share and one half of one common
share purchase warrant, with each whole warrant entitling the holder thereof
to acquire one additional common share of Global Energy from treasury at an
exercise price of $0.50 per share for a period of 2 years from the closing of
the offering. The Common Shares and Warrants issues pursuant to the Offering
are subject to a four-month hold period expiring on June 5, 2008.
Net proceeds of approximately $300,000 from this private placement will
be used to fund business development activity and for working capital
About Global Energy Services Ltd.
Global Energy Services Ltd. is an innovative oilfield service company
that provides production services and communications solutions to the oil and
gas industry. The production services segment utilizes their patented
Activator hydraulic submersible pump to enhance gas production in conventional
gas and coalbed methane wells. Global's communications segment provides a
complete suite of integrated products and solutions specifically suited for
the oil and gas industry. Global Energy was founded in 1994 and is listed on
More information about Global Energy Services can be found at
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Derek M. Begin, President and Chief Executive
Officer, Farhan Farshori, Vice President, Corporate Development, Global Energy
Services Ltd., No. 10, 5920 - 11th Street S.E., Calgary, Alberta, T2H 2M4,
Tel: (403) 243-0820, Fax: (403) 243-3425, E-mail: firstname.lastname@example.org,
E-mail: email@example.com, Web site at: www.global-energy.ca