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EES Ecomax Energy Services Ltd.

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Share Name Share Symbol Market Type
Ecomax Energy Services Ltd. TSXV:EES TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

EcoMax Sells Pump Technology; Reduces Bank Debt

02/02/2010 9:19pm

Marketwired Canada


EcoMax Energy Services Ltd. (TSX VENTURE:EES) ("EcoMax" or the "Company") is
pleased to announce that it has closed the sale of the rights to the technology
related to the EcoMax Chemical Pump to LEWA GMBH ("Lewa"), a pump manufacturer
based in Germany. The purchase price for the technology was 100,000 euro
(approximately $150,000). As part of the agreement, the Company also sold
equipment related to the EcoMax Pump business for 8,000 euro, which was
approximately equal to its book value at the time of the sale.


As part of the agreement Lewa has retained the services of the Company's
engineer (and primary inventor of the Pump). Lewa has also agreed to provide
maintenance and repair services to our Pump customers. The Company has retained
the right to sell any existing Pump inventory for a period of time.


Proceeds of the sale were used to reduce the Company's bank operating line from
$500,000 to $300,000 in accordance with an agreement with the bank. The
remaining amount of the line is to be eliminated by March 31, 2010.


About EcoMax Energy Services Ltd.:

EcoMax Energy Services Ltd. is an oilfield services company whose product
offering includes BOP sales and service solutions to the drilling and well
servicing industries primarily in Western Canada.


1 Year Ecomax Energy Services Ltd. Chart

1 Year Ecomax Energy Services Ltd. Chart

1 Month Ecomax Energy Services Ltd. Chart

1 Month Ecomax Energy Services Ltd. Chart

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