CALGARY, June 29, 2012 /CNW/ - Ridgeline Energy Services Inc. ("Ridgeline" or the "Company") (TSXV: RLE) (OTCQX: RGDEF) an energy services and water treatment company, announces that it has retained Lytham Partners, LLC ("Lytham") as its investor relations firm to help broaden awareness of the company within the North American professional investment community.
Tony Ker, CEO of Ridgeline Energy Services, Inc., commented, "Ridgeline has gained significant traction on its business model in the last twelve months. The company's acquisition of the core water treatment technology from Danzik Hydrologic Sciences, LLC in January 2012 paves the way for rapid deployment in the industrial waste water market that will include the oil and gas markets, as well as municipal waste water. We believe that Lytham Partners will be instrumental in helping us to effectively communicate the value proposition that our water treatment technology represents to an increasingly larger audience."
The parties have entered into a renewable six month agreement for investor relations services. The agreement may be terminated by either party by giving 30 days' written notice of termination. The Company will pay a consulting fee to Lytham Partners of $7,500 per month plus approved expenses incurred on behalf of the Company.
"We believe that the water treatment technologies provided by Ridgeline could significantly improve upon current industrial and commercial waste water treatment processes and do it with greater cost efficiency," said Robert A. Blum, managing partners of Lytham Partners, LLC. "We look forward to working closely with the Ridgeline management team to expand their presence in the United States and Canada with the initiation of quarterly conference calls, expanded non-deal investor roadshow meetings and selected conference participation."
The Company has also granted Lytham Partners 150,000 incentive options to purchase common shares of the Company at a price of $0.70 per share for a period of 5 years. The options are subject to following vesting period: 10,000 immediately and 15,000 every 6 months thereafter. In the event the contract is not renewed at the end of any six month term any unvested options shall be cancelled upon termination of the agreement. The options will be granted in accordance with the Company's share award plan and as set forth by TSX Venture Exchange policy. Both the options and the investor relations consulting agreement are subject to the approval of the TSX Venture Exchange.
About Lytham Partners, LLC
Lytham Partners, LLC provides expertise and guidance to mid- and small-cap companies in the healthcare, technology, services, agricultural, industrial, aerospace and defense segments, as well as the consumer and capital goods industries. The firm is dedicated to generating substantive communications programs with an emphasis on developing management credibility via data, clear articulation of achievable strategic plans, and timely interaction with investors. For more information visit our website at www.lythampartners.com.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is an energy services and water treatment company. The Company is applying proprietary technology to treat water generated from industrial and commercial waste water markets. These markets include a wide variety of clients across a broad spectrum of industries including oil and gas. Through its environmental consulting and remediation divisions, Ridgeline Environment has built a reputation as an established provider of environmental services to the Western Canadian oil and gas industry. Ridgeline GreenFill provides soil remediation and water treatment services to the oil and gas industry. The Company trades on the TSX Venture Exchange under the symbol "RLE" and the OTCQX as "RGDEF". Additional information is available on the Company's website at: www.ridgelinecanada.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Ker, CEO
"Neither 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 accuracy of this news release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
For further information:
Ryan Johnson of Ridgeline Energy Services Inc.
(604) 566-8066 ext. 3 (Vancouver)
Robert Blum, Joe Diaz or Joe Dorame
Lytham Partners, LLC
(602) 889-9700 (Phoenix)