EcoMax Announces Intention to Proceed With Private Placement

EcoMax Energy Services Ltd. ("EcoMax" or the "Company") (NEX BOARD:EES)
announces that it will issue up to 4,000,000 units ("Units") at a price of $0.05
per Unit in a non-brokered private placement (the "Offering"). Each Unit
consists of one common share of the Company ("Common Share") and one share
purchase warrant ("Warrant"). Each Warrant shall entitle the holder to acquire
one Common Share at a price of $0.10 per share for a period of 12 months from
the date of issuance.


Closing of the Offering is expected to occur on or before February 28, 2011 and
is subject to receipt of all necessary regulatory approvals. The net proceeds of
the Offering will be used for working capital.


This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the anticipated timing for the
closing of the Offering. The forward-looking statements contained in this
document are based on certain key expectations and assumptions made by EcoMax,
including with respect to the anticipated timing for closing the Offering.
Although EcoMax believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because EcoMax can give no assurance
that they will prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. These forward-looking statements are based on current
expectations that involve a number of risks and uncertainties, which could cause
actual results to differ materially from those anticipated. These risks include,
but are not limited to, the failure to obtain necessary regulatory approvals,
risks and uncertainties that settlement terms with creditors cannot be
successfully negotiated and that strategic alternatives to realize value may not
be available on terms satisfactory to the Company or at all. 


Readers are cautioned not to place undue reliance on forward-looking statements
as there can be no assurance that the plans, intentions or expectations upon
which they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated. Forward-looking
statements contained in this press release are expressly qualified by this
cautionary statement. 


The forward-looking statements contained in this press release are made as of
the date hereof and EcoMax undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

Ecomax Energy Services Ltd. (TSXV:EES)
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