Calgary, Canada – July 20, 2017 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) announces that Mr. Thomas Alford has tendered his resignation, effective today, as High Arctic’s Interim President and CEO. In conjunction with his resignation Mr. Alford has also stepped down from High Arctic’s Board of Directors (“Board”). Mr. Michael Binnion, Chairman of the Board, will temporarily assume his duties. A special committee of the Board is leading the search for a permanent President and CEO and reviewing the Company’s growth opportunities.
The Board would like to thank Mr. Alford for his interim leadership during the integration of Tervita’s Production Services division into High Arctic’s Canadian operations and wish him all the best in his future endeavors.
High Arctic is also pleased to announce the appointment of Mr. Jim Hodgson to the Board and the Audit Committee. Mr. Hodgson is the Managing Director of Link NRG. Prior to his current role, Mr. Hodgson was the Chief Financial Officer of Sino Gas & Energy Holdings Ltd. Previously, he was Chief Financial Officer and director of Stream Oil & Gas Ltd and Chief Executive Officer of United Oil Projects Company, Kuwait. He received a Bachelor of Science (Chemistry) and an MBA (Finance/Marketing) from the University of Toronto and a Master of Science (Finance) from Leicester University in the UK.
Mr. Binnion, Chairman, stated “We are very pleased with the addition of Mr. Hodgson to the Board. He is an experienced financial executive, business leader and corporate director, with experience in the oil and gas industry both in Canada and Internationally.”
About High Arctic
High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’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 well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada.
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Chief Financial Officer
Chairman of the Board