High Arctic Declares Monthly Dividend

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW

CALGARY, Alberta, Sept. 22, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on October 16, 2023, to holders of High Arctic common shares of record at the close of business on September 29, 2023. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

About High Arctic

High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada High Arctic provides pressure control equipment on a rental basis to exploration and production companies.

For further information, please contact:

   Mike Maguire
   Chief Executive Officer
   1.587.318.3826
   1.800.668.7143

   High Arctic Energy Services Inc.
   Suite 2350, 330–5th Avenue SW
   Calgary, Alberta, Canada T2P 0L4
   website: www.haes.ca
   Email: [e-mail]