CALGARY, ALBERTA--(Marketwired - May 29, 2014) - Further to the news release of GASFRAC Energy Services Inc. (TSX:GFS) (the "Corporation"), dated April 29, 2014, the Corporation is pleased to announce that the following individuals were elected by a large majority to the board of directors, at the annual and special meeting of the shareholders of the Corporation, held on May 27, 2014:
Mr. Mark Williamson has been appointed as Chairman of the Corporation and Mr. Michael Perkins, a partner at Borden Ladner Gervais in Calgary, has been appointed as Corporate Secretary of the Corporation.
Jim Hill, GASFRAC Chief Executive Officer, said: "We are very pleased with our newly appointed directors, they bring extensive experience in the oil and gas industry and valuable new insights to GASFRAC. It is an extremely positive step for the company and it highlights GASFRAC's renewed commitment to advance our strategic priorities."
Mark Williamson, newly appointed non-executive Chairman added: "I would like to thank our retiring directors for their years of loyalty and involvement in GASFRAC. The new elected Board will work diligently and proactively to position GASFRAC for immediate success and deliver value to all our stakeholders."
In addition, PricewaterhouseCoopers LLP was affirmed as the Auditor of the Corporation and the stock option plan of the Corporation, including unallocated stock options, rights and entitlements under such stock option plan was approved.
In connection with the election of the new board of directors, the following committees of the board of directors have been appointed. The Audit Committee shall be comprised of Dale Tremblay (Chair), Pierre Jungels and Mark Williamson. The Compensation Committee shall be comprised of Julien Balkany (Chair), Pierre Jungels and Larry Lindholm. The Health, Safety and Environment Committee shall be comprised of Larry Lindholm (Chair), Mark Williamson and Dale Tremblay. The Corporate Governance Committee shall be comprised of all of the independent directors of the board with Pierre Jungels as Chair.
GASFRAC Energy Services, Inc. is an oil and gas technology and service company headquartered in Calgary, Alberta and the sole provider of gelled LPG fracturing technology in North America.