ESI Announces Appointment of New Chief Financial Officer

Calgary, Canada, December 22, 2016 (Newswire.com) -  ESI Energy Services Inc. (CSE: OPI) (“ESI” or the “Company”) announces that Robert Howard has resigned from the position of Chief Financial Officer of ESI as of November 30, 2016 in order to retire.  The Company has appointed Robert Dunstan, the President and Chief Executive Officer of ESI, to the position of Chief Financial Officer on an interim basis until a successor can be appointed.  

As of December 16, 2016, the Board of Directors has appointed Edward (Ted) Rigaux to the position of Chief Financial Officer of ESI effective January 1, 2017. Mr. Rigaux has recently written and passed the Common Final Examination (“CFE”) qualifying him as a certified member of the Chartered Professional Accountants of Alberta and Canada.  Ted has been employed in a variety of roles within ESI’s accounting department since April 2013, including participating in the conversion of ESI’s financial reporting system from Accounting Standards for Private Enterprise (“ASPE”) to International Financial Reporting Standards (“IFRS”). He is also well acquainted with the business and operations of ESI. 

About ESI

ESI is a publically traded company listed on the Canadian Securities Exchange under the symbol of “OPI”. ESI is a pipeline equipment rental and sales company with principal operations in Leduc, Alberta and Phoenix, Arizona. The Company, through its operating subsidiaries, ESI Pipeline Services Ltd. ("ESIPSL") and Ozzie's Pipeline Padder, Inc. ("OPI"), supplies (rentals and sales) backfill separation machines ("Padding Machines") to mainline pipeline contractors and utility contractors as well as oilfield pipeline and construction contractors. 

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word "will", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the search for a new Chief Financial Officer for the Company. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions inherent in forward-looking information, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Further Information

Robert Dunstan
Chief Executive Officer
Phone: (403) 205-7188
Email: [email protected]

Source: ESI Energy Services Inc.