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CWC ENERGY SERVICES CORP. ANNOUNCES VOTING RESULTS OF ELECTION AND CHANGES TO ITS BOARD OF DIRECTORS

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CALGARY, AB, June 28, 2022 /CNW/ - (TSXV: CWC) CWC Energy Services Corp. ("CWC" or the "Company") is pleased to announce that, at its annual general meeting of shareholders held June 28, 2022, each of the seven nominees proposed as a director and listed in CWC's management information circular dated May 24, 2022 were elected as directors to serve until the next annual meeting of shareholders or until their successors are elected or appointed.  The results of the voting for each director are set out below:

CWC Energy Services Corp. Logo (CNW Group/CWC Energy Services Corp.)
CWC Energy Services Corp. Logo (CNW Group/CWC Energy Services Corp.)

Nominee

Votes For

% For

Votes Withheld

% Withheld

Duncan T. Au

386,250,678

99.84 %

616,993

0.16 %

Daryl G. Austin

385,648,345

99.68 %

1,219,326

0.32 %

Gary L. Bentham

386,711,208

99.96 %

156,463

0.04 %

Jason Chehade

379,607,263

98.12 %

7,260,408

1.88 %

Nancy F. Foster

386,861,303

100.00 %

6,368

0.00 %

Wade J. McGowan

386,368,229

99.87 %

499,442

0.13 %

Jim Reid

301,155,444

77.84 %

85,712,227

22.16 %

 

CWC welcomes Mr. Jason Chehade and Ms. Nancy Foster as Directors to the Board of CWC. Mr. Chehade is a Chartered Professional Accountant and Chartered Financial Analyst with extensive experience in private equity, capital markets, corporate finance and business operations. He is currently a Vice President in Brookfield Asset Management's Private Equity Group ("Brookfield") focusing on strategy and operational value creation across investments in energy, industrials and healthcare. Prior to joining Brookfield in 2017, Mr. Chehade held roles in equity research at Peters & Co. Limited with a focus on oilfield services and at EY in the assurance practice. He is currently a Director on the Board of Ember Resources Inc.

Ms. Foster is a Corporate Director with 38 years of oil and gas industry experience focused on Human Resources and Corporate Services. From 2011 to 2020 she held the positions of Senior Vice President and Special Advisor to the CEO and Senior Vice President, Human and Corporate Resources for Husky Energy Inc. prior to its merger with Cenovus Energy Inc. From 1996 to 2011, Nancy held positions of increasing responsibility in Corporate Planning Services and Human Resources with Nexen Inc. ending in the capacity of In-Country Manager for Norway. She currently serves on the Board of Governors for the University of Calgary and is the Chairperson for Luna Child and Youth Advocacy Centre.

In conjunction with Mr. Chehade's appointment, CWC has accepted the resignation of Mr. Dean Schultz as a Director of the Company. "Dean has been a valued member of our Board of Directors for over seven years and we thank him for his many contributions. We wish him the best of success in his future endeavors," said Jim Reid, Chairman of the Board.

About CWC Energy Services Corp.

CWC Energy Services Corp. is a premier contract drilling and well servicing company operating in Canada and the United States with a complementary suite of oilfield services including drilling rigs and service rigs. The Company's corporate office is located in Calgary, Alberta with operational locations in Nisku, Grande Prairie, Slave Lake, Sylvan Lake, Drayton Valley, Lloydminster, Provost and Brooks, Alberta and U.S. offices in Denver, Colorado and Casper, Wyoming. The Company's shares trade on the TSX Venture Exchange under the symbol "CWC".

READER ADVISORY - Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE CWC Energy Services Corp.

Cision
Cision

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