EcoMax Announces Sale and Closure of Calgary Operation

EcoMax Energy Services Ltd. (TSX VENTURE:EES) ("EcoMax" or the "Company") is
pleased to announce that it has sold, effective July 31, 2008, the assets and
inventory of its remaining valve operation in Calgary in an arm's length
transaction with a private buyer. This business had been operated under the name
Tega Supply and, more recently, Central Valve Calgary. The assets are being sold
for $250,000, which approximates their book value at the time of the sale. The
Company received $50,000 in cash and a note for the remainder of the purchase
price, which will be payable no later than December 31, 2009.


The Company has also moved the inventory and equipment associated with the
patented EcoMax Pump to its Red Deer facility, which will allow the Company to
save approximately $150,000 per year in costs associated with the Calgary
facility's operation.


Mark Hopkins, the Company's Chief Executive Officer, noted:

"This sale has allowed the Company to complete its exit from the valve business,
reduce costs associated with the EcoMax Pump and corporate administration and
further allow the Company to focus on growing the blow-out prevention (BOP) part
of the business."


About EcoMax Energy Services Ltd.:

EcoMax Energy Services Ltd. is an oilfield services company whose product
offering includes BOP sales and service solutions to the oil and gas and other
industries in Western Canada and the patented EcoMax Chemical Pump.

Ecomax Energy Services Ltd. (TSXV:EES)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024