CALGARY, April 9, 2018 /CNW/ - Cequence Energy Ltd.
("Cequence" or the "Company") (TSX: CQE) announces that Mr.
David Gillis, the Company's
Executive Vice President and CFO, has resigned his
positions to pursue other opportunities effective immediately. The
Board would like to thank Mr. Gillis for his outstanding service to
the Company and wishes him the best in his future endeavors.
In support of the Company and its management, the Board is
pleased to announce that Mr. Donald
Archibald has agreed to assume the role of Executive
Chairman of Cequence and Mr. Howard
Crone has agreed to assume the role of Executive Vice
President and Interim CFO of Cequence. As part of the
executive team, Mssrs Archibald and Crone will continue working
with management and the Board towards identifying and pursuing
various strategic alternatives for the benefit of the Company and
its stakeholders, including, but not limited to, the sale of the
Company, the sale of assets and the refinancing of the $60 million of unsecured notes held by CPPIB, due
October 2018.
About Cequence
Cequence is a publicly traded Canadian
energy company involved in the acquisition, exploitation,
exploration, development and production of natural gas and crude
oil in western Canada. Further
information about Cequence may be found in its continuous
disclosure documents filed with Canadian securities regulators at
www.sedar.com.
Forward-looking Statements or Information
Certain
statements included in this press release constitute
forward-looking statements or forward-looking information under
applicable securities legislation. Such forward-looking statements
or information are provided for the purpose of providing
information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as
making investment decisions. Forward-looking statements or
information typically contain statements with words such as
"anticipate", "believe", "expect", "plan", "intend", "estimate",
"propose", "project" or similar words suggesting future outcomes or
statements regarding an outlook. Forward-looking statements or
information in this press release include, but are not limited to,
Cequence's consideration of various strategic alternatives,
including any potential sale of the Company, the sale of
assets and any potential refinancing of the $60 million of unsecured notes held by CPPIB..
Forward-looking statements or information are based on a number of
factors and assumptions which have been used to develop such
statements and information but which may prove to be incorrect.
Although the Company believes that the expectations reflected in
such forward-looking statements or information are reasonable,
undue reliance should not be placed on forward-looking statements
because the Company can give no assurance that such expectations
will prove to be correct. Forward-looking statements or information
are based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by the
Company and described in the forward-looking statements or
information. These risks and uncertainties may cause actual results
to differ materially from the forward-looking statements or
information. The material risk factors affecting the Company and
its business are contained in the Company's Annual Information Form
which is available on SEDAR at www.sedar.com.
The forward-looking statements or information contained in
this press release are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise unless required by
applicable securities laws. The forward-looking statements or
information contained in this press release are expressly qualified
by this cautionary statement.
The TSX has neither approved nor disapproved the contents of
this news release.
SOURCE Cequence Energy Ltd.