Cordy Oilfield Services Inc.
TSX VENTURE : CKK

Cordy Oilfield Services Inc.

September 19, 2016 17:36 ET

Cordy Oilfield Services Inc. Announces New Executive Team

CALGARY, ALBERTA--(Marketwired - Sept. 19, 2016) - CORDY OILFIELD SERVICES INC. (the "Corporation" or "Cordy") (TSX VENTURE:CKK) is pleased to announce executive team changes as the Corporation continues to strengthen the organization and positions itself for future. The new executive team will be led by Darrick Evong as Chief Executive Officer. Mr. Evong will be joined by, Rick Manhas as Chief Operating Officer and Luke Caplette as Chief Financial Officer. David Mullen, outgoing CEO and Cordy's largest shareholder, will remain on the Board of Directors as Chairman.

Darrick J Evong, Chief Executive Officer

Mr. Evong brings over 10 years of public and private company experience in the oilfield services and transportation sectors. Since May 2014, Mr. Evong, through his consulting company, has been providing strategic business consulting and M&A related services to private and public companies in western Canada. In his role as a Consultant to the Corporation, commencing in February 2015, Mr. Evong, working directly with Mr. Mullen and the Cordy Board of Directors, spearheaded the rightsizing of the business, which included the liquidation of non-core assets and operations, the pay down of approximately $12.0 million in secured debt, and the refinancing of remaining debt on terms conducive to Alberta's current economic reality. Mr. Evong previously held increasingly senior roles at TSX listed companies. Mr. Evong is a Chartered Accountant and Chartered Business Valuator, with extensive experience in organizational and operational improvement, negotiations and M&A.

Rick Manhas, Chief Operating Officer

Mr. Manhas is an environmental waste management specialist and, with over 18 years of experience in the industry, he will play a key role shaping the future of the Corporation providing environmental services and solutions. Mr. Manhas has worked in the fields of regulatory permitting, health and safety, operations, and water and waste treatment and recycling. In his most recent role he worked as a Vice President of Operations for a publicly traded oilfield services company overseeing their US development and operations. Mr. Manhas holds a Bachelor's of Science degree in Environmental Planning from the University of Northern British Columbia and is a Professional Agrologist.

Luke Caplette, Chief Financial Officer

Mr. Caplette is a Chartered Accountant with 7 years accounting and finance experience with private and publicly listed companies. His career began at a major international accounting firm before continuing into the oilfield services industry. He has been part of Cordy for the last two and a half years serving most recently as Corporate Controller. Mr. Caplette has an in-depth knowledge of the Corporation and played a key role in the rightsizing initiative undertaken by Cordy.

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

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