HE Hanwei Energy Services Corp

Hanwei Energy Services Corp. (TSX:HE) ("Hanwei" or the "Company") today
announced a non-brokered private placement of a maximum of 25,000,000 common
shares in the capital of the Company (a "Common Share") at a price of $0.16 per
Common Share for gross proceeds of up to $4,000,000 (the "Private Placement").
Proceeds from this Private Placement will be used for ongoing work over and
development activities of the Company's oil and gas holdings in its Leduc Lands
in Alberta.


The Common Shares issued in connection with the Private Placement will be
subject to a four-month hold period from the date of issuance in accordance with
applicable securities law and approval of the Toronto Stock Exchange ("TSX").
None of the subscribers to the Private Placement currently hold any Common
Shares of the Company and each is an arm's length individual.


About Hanwei Energy Services Corp.

Hanwei Energy Services Corp. is a leading manufacturer of high pressure,
fiberglass reinforced plastic ("FRP") pipe products and associated technologies
and services for the international oil and gas and infrastructure industries.
Hanwei serves major energy customers in the Chinese and global energy markets.
The Company owns producing oil and gas mineral rights located near Edmonton,
Alberta.


www.hanweienergy.com

Neither the TSX nor its Regulation Services Provider (as that term is defined in
the policies of the TSX) accepts responsibility for the adequacy or accuracy of
this release.


FORWARD-LOOKING INFORMATION AND NON-GAAP MEASURES

Certain information in this press release is forward-looking within the meaning
of certain securities laws, and is subject to important risks, uncertainties and
assumptions a description of which is set out in the risk factors section of the
Company's Annual Information Form dated June 20, 2014 and Management Discussion
and Analysis for the year ended March 31, 2014 both of which are filed with
Canadian securities regulators and available on SEDAR at www.sedar.com. The
forward-looking information in this press release describes the Company's
expectations as of the date of this press release.


THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, THE COMPANY
DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS
REQUIRED BY APPLICABLE SECURITIES LEGISLATION.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Graham Kwan
Executive VP, Strategic Development and Corporate Affairs
604-685-2239
gkwan@hanweienergy.com


Yucai (Rick) Huang
Chief Financial Officer
604-685-2239
yhuang@hanweienergy.com

Hanwei Energy Services (TSX:HE)
Historical Stock Chart
From Mar 2024 to Apr 2024

Hanwei Energy Services (TSX:HE)
Historical Stock Chart
From Apr 2023 to Apr 2024