Lightning Industries Establishes New Distributorships in Mexico, Texas and New Mexico
Vancouver, British Columbia (FSCwire) - Lightning Ventures Inc. (CSE: LVI) (Frankfurt: 1HM) (the “Company”) is pleased to announce that its wholly-owned subsidiary, Lightning Industries, has expanded its corporate footprint through the establishment of distributorships in Mexico, Texas and New Mexico.
Two new product lines have been developed specifically for the Mexican oil and gas space. Management expects the balance of 2017 to be cash flow positive and anticipates significant revenue growth in 2018 based on an evolving growth trajectory.
Don Rainwater, President and CEO, states: "Oil and Gas companies right across the board are forced to tighten their belts in view of the softening in market pricing.”
John England of the Deloitte Center for Energy Solutions says it best: "Oil companies have learned how to operate in a lower price environment, returning to a healthier focus on capital and operating cost discipline."
Don Rainwater further adds: "Our technology products enhance production metrics and help oil and gas companies deal with economic rationalization in a challenging pricing environment."
Further, the Company has granted an aggregate of 3,100,000 incentive stock options (the "Options") to officers, directors and consultants of the Company. The Options are exercisable at $0.10 per share for a period of five years from the date of grant. The Options have been granted under and are governed by the terms of the Company's incentive stock option plan.
About Lightning Ventures
Lightning Ventures Inc. (CSE: LVI) (Frankfurt: 1HM) is an oil and gas industrial services company. It operates a specialty manufacturing business based in Hobbs, New Mexico through its subsidiary Lightning Industries, Inc., which provides products to enhance efficiency and increase the production of oil and gas wells.
Further information about Lightning Ventures is available under its profile on the SEDAR website www.sedar.com and at www.lightningind.com.
For further information on the Company, please contact:
Chief Executive Officer
Lightning Ventures Inc.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements.
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Source: Lightning Ventures Inc. (CSE:LVI)
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