NISKU, AB, Oct. 3, 2018 /CNW/ - Hyduke Energy Services Inc.
("Hyduke" or the "Company") (HYD – TSX) wishes to
provide an update regarding its operating line.
On Aug 3, 2018, Hyduke announced
the need to replace its operating line by the end of August. Before
the deadline expired, the lender approved an extension of its
credit facilities to September 28,
2018 with specific conditions. To meet its short-term
cash requirements, the Company approved a subordinated debt
agreement with one of its directors. Hyduke is actively
working with its lender to finalize the transfer of their position
to a new lender by October 31,
2018.
Forward looking information
This news release contains forward-looking information
relating to the expectations of management regarding its operating
line, negotiations with its lender and seeking a new lender. Such
forward-looking information is subject to important risks,
uncertainties and assumptions. The results or events predicated in
this forward-looking information may differ materially from actual
results or events. As a result, you are cautioned not to place
undue reliance on this forward-looking information.
While the Company may elect to, the Company is under no
obligation and does not undertake to update this information at any
particular time, except as required by law.
About Hyduke
Trading on the TSX under the symbol
"HYD," Hyduke Energy Services Inc. is a supplier of equipment and
services to the oil and gas drilling and well servicing
industry.
SOURCE Hyduke Energy Services Inc.