NEWS RELEASE NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
High Arctic Announces Appointment of Chief Financial Officer
Calgary, Canada – November 03, 2015 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of Brian Peters as Chief Financial Officer (CFO) effective November 16th, 2015. Brian is a Chartered Accountant with nearly twenty years of experience in various finance and accounting roles, including that of CFO at both public and private oilfield service companies. Mr. Peters will be responsible for the overall financial management of High Arctic and will be located in our corporate office in Calgary.
Tim Braun, President and CEO of High Arctic, stated, “Brian has gained valuable executive experience in the various roles he has fulfilled during his career. His merger and acquisition experience in the energy services sector will be especially beneficial as High Arctic expands its business. I wish to thank Ken Olson for his efforts during the past three years and wish him success in his future endeavors.”
This news release may contain forward-looking statements relating to expected future events and financial and operating results of the Company that involve risks and uncertainties. Actual results may differ materially from management expectations, as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed in both the Company’s Management’s Discussion and Analysis for the quarter ended June 30, 2015, and in the Annual Information Form for the year ended December 31, 2014 found on SEDAR (www.sedar.com). Due to the potential impact of these factors, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
About High Arctic
High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. Based in Alberta, the Company’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry.
High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada.
Chief Executive Officer