CALGARY, Dec. 24 /CNW/ - Estrella International Energy Services Ltd. (TSX-V:EEN) ("Estrella" or the "Company") is pleased to announce an increase to the over-allotment option (the "Over-Allotment Option") of its previously announced private placement with Canaccord Genuity Corp. ("Canaccord Genuity") of 100 subscription receipts (the "Subscription Receipts") for aggregate gross proceeds of $10,000,000 (the "Offering"). Estrella has increased the Over-Allotment Option granted to Canaccord Genuity to solicit subscriptions for and offer for sale up to an additional 50 Subscription Receipts (the "Additional Subscription Receipts"), for additional gross proceeds of up to $5,000,000, at the same price and at the same terms as the Subscription Receipts. The Over-Allotment Option shall expire on the Closing Date and if exercised in full would result in total gross proceeds of $15,000,000.