NISKU, AB, Oct. 30, 2014 /CNW/ - Hyduke Energy Services
Inc. (HYD - TSX), announces that further to its news release of
September 12, 2014 in respect of the
signing of a Letter of Intent for the sale of its shares in its
100% owned subsidiary, Hyduke Machining Solutions, the agreement
has been terminated. Hyduke and the undisclosed buyer were
unable to agree upon certain terms of the agreement.
About Hyduke
Trading on the TSX under the symbol "HYD," Hyduke Energy
Services Inc. is a supplier of equipment and services to the oil
and gas drilling and well servicing industry.
Forward-Looking Statements
Certain information in this press release constitutes
forward-looking statements under applicable securities law. In
particular, without limiting the generality of the foregoing, this
press release contains forward-looking information regarding how
the proceeds from the Offering will be used by the Company. Any
statements that are contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as "anticipate", "believe", "estimate", "expect",
"plan", "intend", "may", "should", "seek" or similar words
suggesting future outcomes or outlooks on, without limitation,
estimates of business activity, supply and demand for the Company's
products, the estimated amounts and timing of capital expenditures,
anticipated future debt levels, or other expectations, beliefs,
plans, objectives, assumptions or statements about future events or
performance.
Readers are cautioned not to place undue reliance on
forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and
uncertainties both general and specific that may cause actual
future results to differ materially from those contemplated and
contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur.
These factors include, but are not limited to: risks associated
with oil and gas exploration customers, development, exploitation,
production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations, interest
rate risk, environmental risks, competition, inability to retain
drilling rigs and other services, failure to realize the
anticipated benefits of acquisitions, delays resulting from or
inability to obtain required regulatory approvals, changes in
legislation including but not limited to income tax, environmental
laws and regulatory matters, ability to access sufficient capital
from internal and external sources, industry activity levels,
market liquidity, customer credit risk, product liability, fixed
price contracts, development of new products, uninsured and
underinsured losses, access to additional financing, source of
supply of raw material and third party components, availability of
key personnel, agreements and contracts, international scope of
operations and Hyduke's anticipation of and success in managing the
risks implied by the foregoing. The Company cautions that the
foregoing list of important factors is not exhaustive. The Company
believes that the expectations reflected in the forward-looking
statements are reasonable, but no assurance can be given that these
expectations will prove to be. The forward-looking statements in
this report speak only as of the date of this report. Hyduke
undertakes no obligation to update publicly or otherwise revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required
pursuant to applicable securities legislation. Forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement.
Additional information on these and other factors that could
affect Hyduke's operations or financial results are included in
Hyduke's reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website
(www.sedar.com.) or by contacting Hyduke.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this News Release.
SOURCE Hyduke Energy Services Inc.