Perma-Fix Announces Private Exchange Offer

ATLANTA, GA --(Marketwired - April 24, 2018) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") announced today that it has commenced an offer to all holders of the Series B Preferred Stock (the "Series B Preferred Stock") of East Tennessee Materials and Energy Corporation, a Tennessee corporation ("M&EC") and a subsidiary of the Company, to exchange during the Exchange Offer period, for every share of Series B Preferred Stock tendered, 0.1050805 shares of newly issued common stock of the Company, par value $.001 per share ("Common Stock"). There are approximately 13 holders of record of M&EC's Series B Preferred Stock. The Exchange Offer is being made on an all-or-none basis as described herein, for all 1,284,730 shares of Series B Preferred Stock outstanding. Assuming all currently outstanding shares of Series B Preferred Stock are tendered for exchange and not validly withdrawn, the Company would issue an amount of its shares of Common Stock not to exceed 135,000. The Company owns 100% of the voting capital stock of M&EC.

The following is a brief summary of certain key elements of the Exchange Offer:

The Exchange Offer will expire at Midnight, Eastern Standard Time, on May 30, 2018 (the "Expiration Date"), unless extended or earlier terminated by the Company.

The Company will not issue fractional shares of Common Stock in the Exchange Offer, but instead will pay cash for all fractional shares on the settlement date based upon the closing price per share of Common Stock on the last trading day immediately preceding the Expiration Date of the Exchange Offer.

The shares of Common Stock issued in exchange for shares of Series B Preferred Stock will be issued pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act") and, consequently, will be considered restricted securities that have restrictions on transferability and may not be transferred or resold except in compliance with the registration requirements of the Securities Act of 1933, as amended, or pursuant to an exemption therefrom and in compliance with other applicable securities laws.