PROJECTS $11-$11.5 MILLION
REVENUE, A 17 TO 25%+ INCREASE OVER 3RD QTR.
CALGARY,
March 12, 2013 /CNW/ - Ridgeline
Energy Services Inc. ("Ridgeline" or the "Company") (TSXV: RLE,
OTCQX: RGDEF, FSE: RL7) a water treatment and energy technology
company, today announced projected revenue and gross margin
numbers for the 4th Quarter 2013.
Mr. Danzik (CEO) of Ridgeline indicated that
revenues in the 4th Qtr. should increase from the
$9.4 million in the 3rd
Qtr. to between $11.5 million and $11.75
million. Gross Margin should increase from $2.9 million to between $3.5 million and $4.0 million
In addition, Mr. Danzik provided additional
details on the terms of the recently announced Missouri acquisition. He stated "All of the
acquisition is paid for either with stock from the company or by a
debenture. The debenture is a good deal for Ridgeline as it is a 60
month term with 6% interest for 30 months and 8% for next 30
months. No principal is payable for the first 9 months with the
principle being amortized over the remaining 51 months. The
debenture is secured against only the asset we are buying. Based on
current market rates available these are attractive. The Warrants
at $1/share are a good indication
that the Vendors believe the asset will be put to good use"
The Company would like to correct a miss-print
in the March 8th news
release regarding the size of the Private Placement. The
March 8th release
indicated gross proceeds of $3,480,000. The correct amount should be gross
proceeds of $ 2,820,000.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is a water
treatment and energy technology company. The Company is applying
proprietary technology to treat water generated from industrial and
commercial waste water markets. These markets include a wide
variety of clients across a broad spectrum of industries including
oil and gas. Through its environmental consulting and remediation
divisions, Ridgeline Environment has built a reputation as an
established provider of environmental services to the Western
Canadian oil and gas industry. Ridgeline GreenFill provides soil
remediation and wet waste disposal services to the oil and gas
industry. The Company trades on the TSX Venture Exchange
under the symbol "RLE", the OTCQX as "RGDEF" and the Frankfurt
Stock Exchange as "RL7".
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis Danzik"
Dennis M. Danzik, CEO
"Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. This news release
may contain forward-looking statements. Forward-looking statements
address future events and conditions and therefore, involve
inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.
Such information is subject to known and unknown risks,
uncertainties and other factors that could influence actual results
or events and cause actual results or events to differ materially
from those stated, anticipated or implied in the forward-looking
information. Readers are cautioned not to place undue
reliance on forward-looking information, as no assurances can be
given as to future results, levels of activity or
achievements."
SOURCE Ridgeline Energy Services Inc.