CERF Incorporated

CERF Incorporated

October 20, 2014 20:51 ET

CERF Incorporated Appoints Derrek R. Wong as VP Finance and Chief Financial Officer, Effective October 20, 2014

CALGARY, ALBERTA--(Marketwired - Oct. 20, 2014) - CERF Incorporated ("CERF") (TSX VENTURE:CFL) today announced that its Board of Directors has appointed Derrek Wong, MBA, CFA, FCMA, as VP Finance and Chief Financial Officer. Mr. Wong succeed Ken Stephens, who is retiring after having been VP Finance and CFO since the company's inception in 2005. Mr. Stephens will continue in a consulting role with CERF and will continue to serve on the Board of Directors of CERF.

Mr. Wong has held various senior management positions including Account Manager, Multinational Banking with Royal Bank of Canada, VP Corporate Finance for Bank of America, Managing Director of Associated Freezers Income Trust, CFO and VP Finance of Levitt Safety Limited, VP Finance Western Division and VP Mergers and Acquisitions for Intact Insurance Canada and Senior VP, CFO and Secretary of One Earth Farms Corp.

Mr. Wong was awarded the Fellow of Society of Management Accountants (FCMA), is a Certified Management Accountant (CMA), is a Chartered Financial Analyst (CFA) and holds a Masters of Business Administration (MBA) from the Richard Ivey School of Business at the University of Western Ontario. Mr. Wong is currently the Chair of the Board of Directors of the Society of Management Accountants of Alberta.

Mr. Wayne Wadley, President and CEO comments, "Derrek brings a wealth of experience in financial accounting, financial analysis, growth and acquisitions strategy to CERF. I am delighted to have Derrek join the CERF team. As CERF continues to grow organically and through strategic acquisitions, I am confident that Derrek will be instrumental in assisting CERF achieve its future goals.

I would also like to thank Mr. Stephens for his the tireless efforts on behalf of CERF of over the past nine years. Mr. Stephens was one of the founding Directors and CFO of CERF's predecessor, Canadian Equipment Rental Fund Limited Partnership. He was responsible for the financial direction of CERF as it became a significant player in the industrial and energy services markets in western Canada. I am happy that Mr. Stephens will continue on in a consulting role and will remain on the Board of Directors."

About CERF Incorporated

CERF is a Canadian public corporation with two primary divisions: energy services and industrials. The energy services division is engaged in the rental of surface rentals, downhole equipment and accommodations to the Western Canadian Oil and Gas Industry. The industrials division is engaged in the rental of industrial and construction equipment and waste management. CERF has paid consecutive quarterly dividends since 2006 and trades on the TSX Venture Exchange under the symbol "CFL". CERF currently has 36,211,447 common shares issued and outstanding.

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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