Business
High Arctic Reorganizes Its Financial Team
High Arctic Reorganizes Its Financial Team.
About this update from High Arctic Energy Services Inc
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n\n\nCONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/\n\n\nRED DEER, AB, Aug. 31 /CNW/ - High Arctic Energy Services Inc. (TSX: HWO)\n("High Arctic") today announced that it has reorganized its financial team and\ncommenced its search for a full time executive to fill the role of Chief\nFinancial Officer. In order to draw on the strengths of the different\nprofessionals currently employed in High Arctic, the CFO duties will be\nperformed primarily by Mr. Peter Julien, Vice President of Finance with the\nassistance of Mr. Dennis Sykora, Vice President of Legal and Corporate\nDevelopment and, the on-going advisory services of Mr. Randy Henderson, on a\nconsulting basis, until a suitable Chief Financial Officer is selected. This\nrefinement is an integral step in transitioning to a full-time executive,\nrather than a contractor, to permanently fill the role of Chief Financial\nOfficer of the corporation.\n\n\nAs scheduled, Mr. Henderson's consulting contract to provide strategic\nfinancial support as Interim Chief Financial Officer will end on August 31,\n2007. Mr. Henderson was engaged in early 2007 as an advisor to the Special\nCommittee of the Board of High Arctic Energy Corp., administrator of the High\nArctic Energy Services Trust, to assist them in their examination of the\nbenefits of the strategic restructuring of the Trust. Since April 1, 2007, he\nhas served as Interim Chief Financial Officer and assisted the Trust in its\ntwo equity placements earlier this year and its reorganization into corporate\nform (as High Arctic). Accordingly, his contracted mandate to serve as Interim\nChief Financial Officer is now successfully completed.\n\n\nForward-Looking Statements\n\n\nThis news release may contain forward-looking statements relating to\nexpected future events and financial and operating results of the Corporation\nthat involve risks and uncertainties. Actual results may differ materially\nfrom management expectations as projected in such forward-looking statements\nfor a variety of reasons, including market and general economic conditions and\nthe risks and uncertainties detailed in the Corporation's Management\nDiscussion and Analysis for the six months ended Jun...