Canadian Energy Services & Technology Corp.
TSX : CEU
OTCQX : CESDF

Canadian Energy Services & Technology Corp.

February 09, 2017 17:19 ET

Canadian Energy Services & Technology Corp. Announces Cash Dividend, JACAM Management Changes and Provides Q4 Conference Call Details

CALGARY, ALBERTA--(Marketwired - Feb. 9, 2017) - Canadian Energy Services & Technology Corp. ("CES" or the "Corporation") (TSX:CEU)(OTCQX:CESDF) announced today that it will pay a cash dividend of $0.0025 per common share on March 15, 2017, to the shareholders of record at the close of business on February 28, 2017.

CES also announced today the retirement of Dr. Gene H. Zaid as CEO of its JACAM subsidiary. As the founder of JACAM over thirty years ago and with more than thirty patents and numerous trade secrets to his credit, Dr. Zaid has been a significant driving force behind JACAM's success which also led to the acquisition of JACAM by CES in March 2013. Jason West is also leaving his position as President of JACAM.

"The Corporation wishes to thank Gene and Jason for their very significant contributions in building JACAM, and stewarding JACAM's successful integration into CES," said Tom Simons, President and CEO of CES. "CES has prepared for this transition by building a group of world class scientists and production chemical business leaders. We are honoured to take JACAM forward in Dr. Zaid's legacy. Going forward our US production and specialty chemical business will be led by Mr. Vern Disney who joined CES as part of the Catalyst acquisition in August 2016. The combination of JACAM and Catalyst positions us as a leading US production and specialty chemical company."

CES also announced today that it will conduct its Q4 conference call on March 10, 2017 following the upcoming release of its financial results for the fourth quarter and full-year ended December 31, 2016. The 2016 results are expected to be released after the close of market the day before the conference call. Tom Simons, President and Chief Executive Officer of CES, will host the call.

Date: March 10, 2017
Time: 9:00 a.m. MT
Dial-in: (877) 291-4570 or (647) 788-4922
Online: http://www.gowebcasting.com/8360

A replay of the conference call will be accessible on the Corporation's Investor Relations website at www.CanadianEnergyServices.com by selecting "News Releases".

About Canadian Energy Services & Technology Corp.

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. The Corporation's business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.

Additional information about CES is available at www.sedar.com or on the Corporation's website at www.CanadianEnergyServices.com.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Canadian Energy Services & Technology Corp.
    Tom Simons
    President and Chief Executive Officer
    403-269-2800

    Canadian Energy Services & Technology Corp.
    Craig Nieboer, CA
    Chief Financial Officer
    403-269-2800
    cesinfo@ceslp.ca