Cordy Oilfield Services Inc. Announces Additions to Its Board of Directors and Approval of Share Consolidation

CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) -- Cordy Oilfield Services Inc. (“Cordy” or the “Corporation”) (TSX VENTURE: CKK) is pleased to announce that at yesterday’s annual general and special meeting of shareholders, David Mullen, Timothy Urquhart, Stuart King, Ricky Manhas and Michael Smith were elected as directors of Cordy. Ricky Manhas and Michael Smith are the newly elected members of the Board of Directors.

Mr. Manhas is an environmental waste management specialist ‎with over 18 years of experience in the industry. Mr. Manhas has ‎worked in the fields of regulatory permitting, health and safety, ‎operations, and water and waste treatment and recycling. Mr. ‎Manhas has worked as a Vice President of Operations for a ‎publicly traded oilfield services company overseeing their U.S. ‎development and operations. Most recently, Mr. Manhas served ‎as the Chief Operating Officer of the Corporation, a position he ‎held from September 2016 to March 2019. Mr. Manhas holds a ‎Bachelor of Science degree in Environmental Planning from ‎the University of Northern British Columbia and is a professional ‎Agrologist.‎

Mr. Smith, a new independent director of the Corporation, is a professional engineer with over 15 years of experience ‎in the oil and gas sector. Mr. Smith is currently the President of ‎Western Engineered Containment, a position he has held for the ‎past 6 years. Western Engineered Containment provides ‎premium primary and secondary containment to the energy ‎industry across Canada and is the industry leader with spray ‎applied polyurea lining systems. Mr. Smith sits on the Board of ‎Directors for Blackhawk Resources and on a private engineering ‎consultancy that focuses on in-situ hydrocarbon storage. Mr. ‎Smith has been an officer or director in other numerous private ‎and public companies, including Sabre Graphite Corp., Codeco ‎Energy Group and Fire Creek Resources. ‎

Share Consolidation

The Corporation also announces that at yesterday’s annual general and special meeting of shareholders, the shareholders of the Corporation approved the consolidation of the Corporation’s common shares on the basis of one ‎‎(1) new common ‎share for every five (5) common shares issued and outstanding ‎immediately prior to the consolidation ‎‎(the “Consolidation”). Cordy sought this approval ‎to provide the Corporation with flexibility ‎to proceed with a Consolidation if Cordy ‎determines that it is in the best interests of the ‎Corporation to consolidate the common shares: (i) in ‎order to attract equity financing; or (ii) to facilitate ‎future possible corporate transactions.‎

For further information please contact:
Darrick Evong, CEO
phone: (403) 262-7667

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

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