VANCOUVER, May 30, 2018 /CNW/ - Lightning Ventures Inc. (CSE: LVI) (the "Company" or "Lightning") is pleased to announce that it has executed a Binding Letter of Intent ("LOI") with Servicios Intergrales Tamabra ("Tamabra") to lease natural gas pumping equipment. The formal contract is in the process of being completed with execution to occur no later than June 15, 2018.
Under the terms of the LOI, the Company will provide gas-pumping units, check valves, and power fluid vessels on a 36-month lease with a total lease revenue of US$3,194,452.00.
Servicios Integrales Tamabra is a well-established Mexican company with headquarters in Poza Rica, Veracruz. Tamabra specializes in equipment and services for optimizing production in oil, gas, or geothermal wells. Tamabra is certified under ISO 9000, 14000 and SASST-001.
Don Rainwater, Lightning CEO, commented: "The agreement with Tamabra allows us to expand our product lines and, once fully implemented over the course of the next 6 months, the generated revenue will provide expansion capital for additional markets."
About the Company
Lightning Ventures Inc. is an oil and gas industrial services company engaged in the manufacture and sale of products intended to enhance efficiency and increase the production of oil and gas wells.
Further information about Lightning Ventures is available under its profile on the SEDAR website www.sedar.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The company disclaims any intention or obligation to revise or update such statements.
SOURCE Lightning Ventures Inc.
For further information: Please contact Donald Rainwater, Chief Executive Officer Lightning Ventures Inc., Telephone: 210-535-5700, Email: [email protected]