STW Resources Closes $2,000,000 in Expansion Financing for Construction Division STW Oilfield Construction LLC Closes Financing and Credit Facilities for Equipment and Operations
MIDLAND, Texas, Sept. 26, 2013 /PRNewswire/ -- STW Resources Holding Corp. (OTC QB: STWS) announced today that it has closed on expansion capital for its STW Oilfield Construction Division. STW Oilfield Construction provides pad/land clearing, excavating/grading, frac pond construction including liners and evaporation covers, along with lease roads and pad construction for exploration and production of oil and gas leases.
The company said that the new capital and credit facilities are providing for additional equipment and personnel and that the construction division is already generating revenues from projects with additional construction projects in process. Late last week, the company deployed new crews and new equipment for the project with a major oil and gas producer. The new capital has been provided by Joshua C. Brooks, who has joined STW as vice president of operations. Brooks, a veteran of the construction and energy industry, will participate in business development, management of the STW construction fleet as well as construction projects.
Brooks has funded the first stage of STW Oilfield Construction through a Revenue Participation Note, an Operating Credit Line and Credit Facilities with three entities.
Said Brooks, "Business is booming in oilfield services and I believe STW has both the vision and infrastructure in place for major growth in this sector. Which is why I have joined STW and made investments of my time and capital to realize the full extent of potential growth for the company."
Said STW CEO Stanley Weiner, "Joshua is a major addition to our management team and his investments are an important indication of the potential and confidence he has in the direction that STW is going."
STW Resources Holdings Corp. consults and provides customized water analysis, reclamation and remediation services to a variety of complex industrial and municipal applications throughout several geographic locations. As an independent solutions provider, STW utilizes proven fixed and mobile technologies from various well-known manufacturers. STW's process ensures that the most effective and efficient technologies are implemented. STW's oilfield construction business provides road, pit, location, and water pond construction. The company's pipeline maintenance and construction division connects, repairs, and replaces aging and inadequate natural gas pipelines and is involved with the construction of new pipeline projects.
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Stern & Co.
SOURCE STW Resources Holding Corp.