Seaway Announces Close of Private Placement
May 29 2009 - 12:26PM
Marketwired Canada
Seaway Energy Services Inc. ("Seaway") (TSX VENTURE:SEW) is pleased to announce
it has closed its previously announced non-brokered private placement (the
"Private Placement") of up to 3,100,000 units (each a "Unit") at a price of CDN
$0.05 per Unit. Each Unit consists of one common share of Seaway and one
non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant
entitles the holder thereof to acquire one common share of Seaway (each a
"Warrant Share") at a price of $0.10 per Warrant Share on or before the day that
is 24 months from the date of the Private Placement.
Overview
Seaway is a Calgary-based corporation providing environmental consulting
services to the oil and gas industry. These services include managing the
construction of oil and gas leases and access roads, cleanup of leases and roads
following drilling activity and reclamation of leases following drilling and
production. Copies of the Corporation's documents may be obtained electronically
from the SEDAR system at www.sedar.com or on the Company's website
www.seawayenergy.com
Seaway is listed on the TSX Venture Exchange under the symbol "SEW".
Certain statements contained in this document are "forward-looking statements".
The projections, estimates and beliefs contained in such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause actual results or events to differ materially from those
anticipated in any forward-looking statements. Seaway believes the expectations
reflected in those forward-looking statements are reasonable; however Seaway
cannot provide any assurance that these expectations will prove to be correct.
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