NISKU, AB, Feb. 14, 2017 /CNW/ - Patrick F. Ross, President and CEO of Hyduke Energy Services Inc., ("Hyduke" or the "Company") announces the appointment of James M. Hill CA to the position of Interim Chief Financial Officer effective immediately.
Mr. Hill brings to Hyduke thirty years of board and executive experience with TSX-listed oilfield service companies as a manager of internal audit, director, president, chief executive officer and chief financial officer. Companies include Nowsco Well Service Ltd., Canadian Fracmaster Ltd., Integrated Production Services Ltd., HSE Integrated Ltd. and Gasfrac Energy Services Ltd. He has experience in initial public offerings, equity financing, debt financing, mergers, acquisitions, and sectoral consolidation strategies. Mr. Hill has been instrumental in the processes required to execute the equity financing underway. He will be working directly with the CEO, executive team and the board in the areas of corporate finance, mergers and acquisitions, integration of acquisitions and improved financial processes and controls to execute Hyduke's growth initiatives.
Dayna Decker will remain with Hyduke as controller and chief financial officer of Hyduke's operating subsidiaries.
Trading on the TSX under the symbol "HYD," Hyduke Energy Services Inc. is a supplier of products, equipment and services to the oil and gas production, infrastructure, drilling and well servicing industries.
Forward looking information
This news release contains forward-looking information relating to the timing of completion of the Private Placement; the receipt of all regulatory approvals including that of the TSX; the use of proceeds of the Private Placement; the exercise of the option granted to the Co-Lead Agents; plans to restructure the Company's business; the potential to undertake acquisitions; and other statements that are not historical facts. Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on this forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, the use of the net proceeds of the Private Placement will not be subject to change; the timing of closing of the Private Placement; and the timely receipt of all regulatory and third party approvals for the Private Placement, including those required by the TSX and any consents required from the Company's lenders to utilize the net proceeds of the Private Placement as desired. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks associated with that the Private Placement may not close when planned (or at all) or on the terms and conditions set forth herein; the failure of the Company to obtain all necessary regulatory and third party approvals (including the TSX) for the Private Placement; the failure to obtain the necessary consents and approvals of the Company's lenders; that the Company's budget and plans for the net proceeds from the Private Placement will be amended in a manner that is different from those set forth herein; that the Company may have trouble attracting new customers and/or existing customers may have cash constraints; volatility in market prices for oil and natural gas; and the general economic conditions in Canada.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.
The TSX has neither reviewed nor approved this release.
SOURCE Hyduke Energy Services Inc.
For further information: Patrick F. Ross, President and CEO, Tel 403 528 1095, Email firstname.lastname@example.org