Hyduke Announces Pending Voluntary Delisting from the TSX and Conditional Approval of Listing Application as a Tier 2 Issuer on the TSX Venture Exchange

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LEDUC, AB, June 24, 2019 /CNW/ - Hyduke Energy Services Inc. ("Hyduke" or the "Company") (HYD – TSX) announces that further to its press release of April 5, 2019 and pursuant to Part VII, Section 720 of the Toronto Stock Exchange (the "TSX") Company Manual, it had submitted an application to the TSX for voluntary delisting (the "Voluntary Delisting Application") of the Company's common shares ("Common Shares") from the TSX in conjunction with having submitted an application to list Hyduke's Common Shares (the "Listing Application") on the TSX Venture Exchange (the "TSX-V").

On June 24, 2019, Hyduke received conditional acceptance from the TSX-V confirming it has conditionally approved the Listing Application of Hyduke's Common Shares as a Tier 2 Industrial Issuer, subject to receiving final administrative items and undertakings from Hyduke, which the Company is currently working on completing and submitting as soon as possible.

The exact timing for Hyduke's Common Shares to be voluntarily delisted from the TSX and listed on the TSX-V is subject to receiving final approval from the TSX and TSX-V and the effective date has not yet been confirmed.  It is Hyduke's intention to take all reasonable and prudent steps, as required and with assistance from and cooperation with the TSX and TSX-V, to delist the Company's Common Shares from the TSX and list the Company's Common Shares on the TSX-V without interruption or delay as soon as possible (anticipated to be on or about June 28, 2019) and will provide an update once further information is available.

About Hyduke

Currently trading on the TSX under the symbol "HYD", Hyduke Energy Services Inc. is a fabrication and installation business serving the agrifood, municipal, construction and energy markets - both conventional and renewable.

Forward looking information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws.  The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements.  More particularly and without limitation, this news release contains forward-looking statements and information relating to the expected voluntary delisting of Hyduke's Common Shares from the TSX and the listing of its Common Shares on the TSX-V.  These forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Assumptions have been made with respect to anticipated approvals from the TSX and TSX-V on the Voluntary Delisting Application and Listing Application.  Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as the Company cannot give any assurance that they will prove to be correct.  Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.  Actual results could differ materially from those currently anticipated due to a number of factors and risks.  These include, but are not limited to, the failure of the Company to meet the TSX-V listing requirements. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive.  Other risk factors that could affect the Company's operations or financial results are included in the Company's annual information form and may be accessed through the SEDAR website (www.sedar.com).  The forward-looking statements and information contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.

The TSX has neither reviewed nor approved this release.

SOURCE Hyduke Energy Services Inc.