Strad Energy Services Ltd.

Has agreed with its syndicate of lenders to extend the maturity of its credit facilities by one year to September 29, 2021.

The extension of the maturity of the credit facilities will provide Strad with credit stability and access to capital to fund our current and future capital programs focused on growing our industrial matting division which offers a strong return profile. A positive final investment decision on the LNG Canada project and/or commencement of the Trans Mountain expansion project are two major pipeline projects that would provide significant opportunities for matting rental and related services. This is on top of the growing list of industry pipeline projects relating to mainline, distribution and integrity work which are opportunities Strad is currently pursuing.

In addition, given Strad has $6.2 million of debt outstanding at June 30, 2018, the company maintains the maximum amount of the credit facilities at $41.5 million plus $7 million.