ESI Energy Services Inc. Announces Warrant Extension

CALGARY, Jan. 10, 2018 /CNW/ - ESI Energy Services Inc. (CSE: OPI) ("ESI" or the "Company") announces that ESI, with the approval of the Canadian Securities Exchange, has approved an extension of the expiry date of 1,996,273 outstanding common share purchase warrants (the "Warrants"), which were issued to directors and officers of ESI in June 2002 (the "Warrant Amendment"). The Warrant Amendment will be effective as of January 11, 2018.  Each Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.86 per share until October 19, 2018. Pursuant to the Warrant Amendment, the expiry date of the Warrants has been extended from October 19, 2018 to December 1, 2021. All other terms of the Warrants will remain the same.

About ESI

ESI is a publicly traded company listed on the Canadian Securities Exchange under the stock symbol "OPI". ESI is a pipeline equipment rental and sales company with principal operations in Leduc, Alberta and Phoenix, Arizona. The Company supplies (rents and sells) backfill separation machines to mainline pipeline contractors, oilfield pipeline and construction contractors, utility construction contractors and renewables (wind and solar) contractors.

Certain statements contained in this news release may constitute forward-looking information. These statements relate to future events or future performance. The use of the word "will", "expected" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions inherent in forward-looking information, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE ESI Energy Services Inc.

Robert Dunstan, Chief Executive Officer, Phone: [phone], Email: [email protected]