Independent Proxy Advisory Firm ISS Recommends Shareholders Vote for the Acquisition of Essential Energy Services by Element Technical Services

CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Essential Energy Services Ltd. (“Essential” or the “Company”) (TSX: ESN) announced today that the Company has received a positive recommendation from Institutional Shareholder Services (“ISS”) in support of the proposed acquisition of Essential by Element Technical Services Inc. (the “Acquisition”) announced on September 15, 2023. ISS is a leading independent, third-party proxy advisory firm who provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.

In making their recommendation, ISS commented:

“Vote FOR this resolution. Even though the cash offer provides a modest 9.6 percent premium to the unaffected price, it stands just below the twelve-month trading high and provides both certain and immediate value.”

The special meeting of Essential shareholders to approve the Acquisition will be held on November 7, 2023 at the Calgary Petroleum Club, Viking Room, 319 – 5th Avenue SW, Calgary, Alberta, at 10:30 a.m. (Calgary time).

For further information regarding the Acquisition, readers are strongly encouraged to review Essential’s news releases dated September 15, 2023, and October 5, 2023, all of which are available under Essential’s profile on SEDAR+ at www.sedarplus.ca.

Essential shareholders requiring assistance may contact:

Odyssey Trust Company, the Company’s proxy solicitation & information agent:
Phone:	1-587-885-0960
Toll-free North America:	1-888-290-1175
E-mail:	[e-mail]
Or Essential:
Phone:	403-513-7272
E-mail:	[e-mail]

FORWARD-LOOKING STATEMENTS AND INFORMATION

This news release contains “forward‐looking statements” and “forward‐looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward‐looking statements include, without limitation, expectations and objectives for future operations that are subject to a number of material factors, assumptions, risks and uncertainties, many of which are beyond the control of Essential.