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Secure Energy IPO Press Release
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WSLegal\061756\00012\5918493v2
NEWS RELEASE
SECURE ENERGY SERVICES INC. CLOSES INITIAL PUBLIC OFFERING
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
CALGARY, ALBERTA March 30, 2010 – Secure Energy Services Inc. ("Secure" or the
"Corporation") announced today that it has completed its initial public offering of 19,166,667
common shares at a price of $3.00 per common share for gross proceeds of $57,500,001. The
offering was carried out by a syndicate of investment dealers led by FirstEnergy Capital Corp.
and including Raymond James Ltd. and Peters & Co. Limited (collectively, the "Agents"). The
Corporation has granted to the Agents an option, exercisable, in whole or in part from time to
time, for up to 30 days following closing, to offer for sale up to an additional 2,875,000 common
shares at a price of $3.00 per common share to cover over allotments, if any, and for market
stabilization purposes. The common shares of the Corporation will commence trading today on
the Toronto Stock Exchange ("TSX") under the symbol "SES".
The net proceeds to the Corporation from the initial public offering are estimated to be
$53,725,001, after deducting the Agents' fee and the estimated expenses of the offering. The net
proceeds of the offering will be used to fund the Corporation's 2010 capital expenditure program.
Proceeds realized upon exercise of the over allotment option, if any, will also be utilized to fund
the Corporation's 2010 capital expenditure program.
"We are excited to announce the completion of our initial public offering and to commence
trading on the Toronto Stock Exchange," stated Rene Amirault, Chairman, President and Chief
Executive Officer of Secure. "This significant corporate milestone will enable us to pursue our
2010 capital expenditure program and to continue the expansion of our network of facilities in
keeping with our business strategy."
About Secure Energy Services Inc.
Secure is an energy services company that focuses on providing specialized services to upstream
oil and natural gas companies operating in the Western Canadian Sedimentary Basin. The
services provided by Secure assist these companies with the treatment and sale of crude oil and
the handling of by-products associated with oil and natural gas development and production.
The services provided by Secure include crude oil emulsion treatment, the terminalling, storage
and marketing of crude oil, oilfield waste processing, tank washing, landfill disposal and disposal
of produced and waste water. The Corporation's services are provided at eight facilities in
Alberta and one facility in British Columbia.
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When used in this news release, the words "will", "estimate" and similar expressions are
intended to identify forward-looking statements. Such statements are subject to certain risks,
uncertainties and assumptions that could cause actual results to differ materially from those
contemplated in the forward-looking statements. Forward-looking statements are based on the
estimates and opinions of management at the date that the statements are made, and the
Corporation undertakes no obligation to update forward-looking statements if conditions or
opinions should change, except as required by applicable law.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of
this news release.
For more information please contact:
Rene Amirault Chairman, President and Chief Executive Officer
Secure Energy Services Inc.
Phone: (403) 984-6100
Fax: (403) 984-6101
Nick Wieler Vice President, Finance and Chief Financial Officer
Secure Energy Services Inc.
Phone: (403) 984-6100
Fax: (403) 984-6101