CALGARY, ALBERTA–(Marketwired – July 11, 2014) – Divestco Inc. (TSX VENTURE:DVT) (“Divestco” or the “Company”) is pleased to announce the appointment of Richard Kines as Interim CFO effective June 23, 2014. Mr. Kines brings over 35 years of financial management experience in upstream and downstream sectors of the oil and gas industry, oil and gas service industry, merchant banking and public accounting service sector.
Mr. Kines was most recently working as Interim CFO at a private oil and gas company and was CFO of Connacher Oil and Gas Limited from 2004 – 2012. Mr. Kines has extensive experience in instituting and maintaining financial controls, investor relations, tax planning, regulatory reporting and banking.
Mr. Stephen Popadynetz has resigned his role as CFO but remains president and CEO of Divestco. Mr. Popadynetz commented, “Richard is extremely well qualified to act as our CFO.” “His deep leadership experience will help complement our team and provide us with the knowledge to strategically transform our financial position and to access and deploy new capital and banking strategies.”
Mr. Kines is a chartered accountant who earned his B.Comm from the University of Saskatchewan.
About the Company
Divestco provides innovative geoscience solutions to Energy and Service companies worldwide. Our customers predominantly operate in geology, geophysics, land and engineering and we work with our clients to ensure they have the right solutions, at the right time, to help them make more informed decisions. Commitment, innovation, accountability and agility form the cornerstone of our values and enable us to consistently provide reliable solutions and exceptional, personalized service in all of the core areas in which we operate. Divestco provides Software & Data, Seismic Processing, Geomatics Services, Seismic Data & Brokerage, and Land Services. Divestco is headquartered in Calgary and trades on the TSX Venture Exchange under the symbol “DVT”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Mr. Stephen Popadynetz
CEO, President and CFO