Hyduke Energy Services Inc. Provides an Update Regarding its Operating Line

NISKU, AB, Oct. 3, 2018 /CNW/ - Hyduke Energy Services Inc. ("Hyduke" or the "Company") (HYD – TSX) wishes to provide an update regarding its operating line.

On Aug 3, 2018, Hyduke announced the need to replace its operating line by the end of August. Before the deadline expired, the lender approved an extension of its credit facilities to September 28, 2018 with specific conditions.  To meet its short-term cash requirements, the Company approved a subordinated debt agreement with one of its directors.  Hyduke is actively working with its lender to finalize the transfer of their position to a new lender by October 31, 2018.

Forward looking information

This news release contains forward-looking information relating to the expectations of management regarding its operating line, negotiations with its lender and seeking a new lender. Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on this forward-looking information.

While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.

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.

SOURCE Hyduke Energy Services Inc.

View original content: http://www.newswire.ca/en/releases/archive/October2018/03/c7883.html