/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
EDMONTON, AB, Oct. 30, 2020 /CNW/ - Following a long and
distinguished career of energy industry leadership and public
service, Wolverine Energy and Infrastructure Inc. ("Wolverine")
announces the retirement of its Board of Directors Chairman,
Dennis Sharp. Mr. Sharp is retiring
for personal reasons.
Mr. Sharp, who has been an energy industry leader for the past
50 years, has served in a variety of executive capacities in the
private and public energy sectors including Chairman and Chief
Executive Officer of UTS Energy Corporation, CS Resources Limited
and Command Drilling Inc. He has also served as a director of
EnCana Corporation, PanCanadian Petroleum Limited, Azure Dynamics
Corporation, and a number of non-profit organizations, including
the Philharmonic Orchestra, McGill Chamber Orchestra and Centaur
Theatre Productions.
Jesse Douglas, President and
Chief Executive Officer of Wolverine, states, "Those of us who were
lucky enough to know and work with Dennis admire him for devotion
to all his endeavours, both in business and family. We will miss
his leadership and wish him well in his retirement."
Wolverine is looking forward to adding new strength to its Board
of Directors and is in the process of interviewing qualified
candidates to fill the vacancy left by Mr. Sharp prior to its 2020
Annual General Meeting.
About Wolverine
Wolverine is an industry-leading, diversified energy and
infrastructure service provider in western Canada and the
United States, providing a wide range of services including:
water management, production testing, oilfield/energy rentals, and
environmental services (waste disposal and custom crude treating).
Wolverine's original business roots and operations began in 1952.
Over the course of its history, the Wolverine group of companies
have pursued a strategy combining organic growth and strategic
acquisitions. Today, Wolverine is strongly positioned to
consolidate a highly-fragmented energy services and midstream
market in western Canada, and is
diligently focused on return on capital deployed, market
diversification, and maintaining best-in-class services throughout
the full life cycle of its diverse clients' projects.
Cautionary Statements
This news release contains forward-looking statements and/or
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable securities
laws. When used in this release, such words as "would",
"will", "anticipates", believes", "explores" and similar
expressions, as they relate to Wolverine or its management, are
intended to identify such forward-looking statements. Such
forward-looking statements reflect the current views of Wolverine
with respect to future events, and are subject to certain risks,
uncertainties and assumptions. Many factors could cause Wolverine's
actual results, performance or achievements to be materially
different from any expected future results, performance or
achievement that may be expressed or implied by such
forward-looking statements. In particular, this news release
contains or implies forward-looking statements pertaining to: the
Company's resignation of certain directors and the future
appointment of directors. These forward-looking statements are
subject to numerous risks and uncertainties, including but not
limited to: the impact of general economic conditions in
Canada and the United States; industry conditions
including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are
interpreted and enforced, in Canada and the
United States; competition; lack of availability of
qualified personnel; obtaining required approvals of regulatory
authorities, in Canada and
the United States; volatility in
market prices for oil and gas; fluctuations in foreign exchange or
interest rates; environmental risks; changes in income tax laws or
changes in tax laws and incentive programs relating to the oil
industry; ability to access sufficient capital from internal and
external sources; and other factors, many of which are beyond the
control of the Company. These forward-looking statements reflect
material factors, expectations and assumptions.
Forward-looking statements included in this news release should not
be read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those implied by such
forward-looking statements. Although the forward-looking statements
contained in this document are based upon assumptions which
management of the Company believes to be reasonable, the Company
cannot assure investors that actual results will be consistent with
these forward-looking statements.
Readers are encouraged to review and carefully consider the
risk factors pertaining to Wolverine's business described the
Company's latest annual Management Discussion and Analysis, which
is accessible on Wolverine's SEDAR issuer profile at www.sedar.com.
The forward-looking statements contained in this release are made
as of the date of this release, and except as may be expressly be
required by law, Wolverine disclaims any intent, obligation or
undertaking to publicly release any updates or revisions to any
forward-looking statements contained herein whether as a result of
new information, future events or results or otherwise, other than
as required by applicable securities laws.
Management of the Company has included the above summary of
assumptions and risks related to forward-looking information
provided in this document in order to provide shareholders with a
more complete perspective on Wolverine's current and future
operations and such information may not be appropriate for other
purposes. Wolverine's actual results, performance or achievement
could differ materially from those expressed in, or implied by,
these forward-looking statements and, accordingly, no assurance can
be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do, what
benefits Wolverine will derive therefrom.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy the Common Shares in any
jurisdiction. The Common Shares have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold in the United States except in certain
transactions exempt from the registration requirements of the U.S.
Securities Act and applicable state securities laws.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) has in any way
approved or disapproved the contents of this news release. The TSXV
does not accept responsibility for the adequacy or accuracy of this
release.
SOURCE Wolverine Energy and Infrastructure Inc.