MATRRIX Energy Technologies Inc. (MATRRIX or the Corporation) (TSX-V:MXX) announced today that its Board of Directors has approved an increase in the Corporation\’s capital expenditure budget (the CAPEX Budget) for the 2014 calendar year. The Corporation\’s CAPEX Budget has been increased from approximately $1.4 million to $6.5 million due to increased committed and anticipated activity primarily in Canada in the latter part of 2014 and 2015. The increased CAPEX Budget includes the purchase of up to four additional EMWD systems, drilling motors and related supporting equipment intended to reduce third party rental charges.
MATRRIX Announces Increase in 2014 CAPEX Budget
- July 18, 2014
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