High Arctic Announces Change of Auditor to KPMG LLP
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CALGARY, Alberta, Nov. 24, 2021 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that, after a review of audit service availability in Canada, the Corporation has chosen KPMG LLP ("Successor Auditor") as external auditors for calendar year 2021. Given parameters for audit services in a changing market, PricewaterhouseCoopers LLC (“Former Auditor”) has resigned effective November 24, 2021.
The Corporation appointed the Successor Auditor as the new auditor effective November 24, 2021, until the close of the next annual general meeting of High Arctic Shareholders.
There were no reservations or modified opinions in any of the Former Auditor’s audit reports for any financial period during which the Former Auditor was the Corporation’s auditor. High Arctic confirms there are no “reportable events” (as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) between the Corporation and the Former Auditor and in its opinion, there are no reportable events pending.
The Corporation and the Board of Directors would like to extend their thanks and high regard to PricewaterhouseCoopers LLC for auditing services to date.
In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from Former Auditor and Successor Auditor, have been reviewed by the Corporation’s Audit Committee and will be filed on SEDAR accordingly.
About High Arctic Energy Services
High Arctic’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps, and drilling support equipment on a rental basis in Papua New Guinea. The Western Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies.
For further information contact:
Chief Financial Officer
P: +1 (587) 318 2218
P: +1 (800) 688 7143
High Arctic Energy Services Inc.
Suite 500, 700 – 2nd Street S.W.
Calgary, Alberta, Canada T2P 2W1