Intercept Energy Services Inc. (TSXV:IES) announced a private placement of up to 20,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 1,000,000 on August 1, 2014. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CAD 0.075 per share for a period of two years from the closing date. The warrants are subject to an accelerated expiry, if at any time, after an initial four month hold period, the closing price of company's common shares on the exchange exceeds CAD 0.15 per share for any 10 consecutive trading days, the warrant holders will be given notice that the warrants will expire 31 days following the date of such notice. All securities issued in the transaction will be subject to a four-month hold period. The company might pay finder's fee in accordance with the policies of the TSX on certain funds raised in the transaction. The closing of the transaction is subject to approval of the TSX.

On the same date, the company issued 9,670,000 units for CAD 483,500 in its first tranche closing.