Hyduke Energy Services Inc. (TSX:HYD) announced that it has entered into an agreement for a private placement on best efforts for a private placement of 29,411,764 common shares at CAD 0.34 per share for gross proceeds of CAD 10,000,000 on January 24, 2017. The transaction is expected to close in early February. The company will exercise the over-allotment option 33,823,528 common shares for gross proceeds of CAD 11,500,000. The transaction is subject to regulatory approvals and TSX Venture Exchange approval. The common shares issued in connection with the transaction will be subject to a statutory hold period of four months plus one day from the date of completion.