Divestco Inc.
TSX VENTURE : DVT

Divestco Inc.

May 25, 2011 18:00 ET

Divestco Reports Departure of Chief Financial Officer

CALGARY, ALBERTA--(Marketwire - May 25, 2011) - Divestco Inc. ("Divestco" or the "Company") (TSX VENTURE:DVT) announces departure of its Chief Financial Officer, Roderick Chisholm.

In conjunction with the overall restructuring efforts of Divestco, the Board of Directors and Mr. Chisholm have agreed that given the current size of the firm and depth in the accounting and finance department, it was a mutually beneficial time for Mr. Chisholm and the Company to amicably part ways. Mr. Chisholm has agreed to consult for the Company on an as needed basis.

For the near to medium term Mr. Stephen Popadynetz will assume the role of Chief Financial Officer. Danny Chiarastella, Vice President Finance will report directly to Mr. Popadynetz.

Mr. Roderick Chisholm, former Chief Financial Officer: "My years at Divestco were some of the most challenging yet most rewarding of my career. I wish to thank the staff, Management and the Board of Directors for the opportunity. This is the right decision for the firm, and one which I fully endorse. Divestco is a great company and, as a shareholder, I look forward to their continued success."

Mr. Stephen Popadynetz, Chief Executive Officer and President: "For well over six years Mr. Chisholm and I have developed a solid working chemistry. While we will miss Rod's full time efforts at Divestco, we wish Mr. Chisholm the best and look forward to our continued working relationship."

Divestco is an exploration services company that provides a comprehensive and integrated portfolio of data, software, and services to the oil and gas industry. Through continued commitment to align and bundle products and services to generate value for customers, Divestco is creating an unparalleled set of integrated solutions and unique benefits for the marketplace. Divestco's breadth of data, software and services offers customers the ability to access and analyze the information required to make business decisions and to optimize their success in the upstream oil and gas industry. Divestco is headquartered in Calgary, Alberta, Canada and trades on the TSX Venture Exchange under the symbol "DVT".

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

Contact Information

  • Divestco Inc.
    Mr. Stephen Popadynetz
    Chief Executive Officer, President & Chief Financial Officer
    587-952-8152
    www.divestco.com