Calgary, Alberta, May 23, 2023: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the
“Corporation” announces today that Lance Mierendorf, High Arctic’s Chief Financial Officer, has
tendered his resignation and plans to step down effective August 17, 2023. Mr. Mierendorf has been
with High Arctic for the past two years and, in addition to solidifying financial reporting, has been
instrumental in strategic transactions undertaken by the Corporation during his tenure. The timing of
Lance’s departure corresponds with the release of second quarter 2023 earnings and substantial
progress towards the recently announced intention to reorganize the Corporation and effect a return of
capital to shareholders subject to a Special Meeting of Shareholders by the end of September, 2023.
Considering these developments, a recruitment process will be initiated to appoint a successor.
About High Arctic
High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea
providing drilling and specialized well completion services and supplies rental equipment including rig
matting, camps, material handling and drilling support equipment. In western Canada, High Arctic
provides nitrogen services and pressure control equipment on a rental basis to exploration and
production companies.
For further information, please contact:
Mike Maguire
Chief Executive Officer
1.587.318.3826
1.800.668.7143
High Arctic Energy Services Inc.
Suite 2350, 330–5th Avenue SW
Calgary, Alberta, Canada T2P 0L4
website: www.haes.ca
Email: info@haes.ca