CALGARY, April 9, 2018 /CNW/ – Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) announces that Mr. David Gillis, the Company’s Executive Vice President and CFO, has resigned his positions to pursue other opportunities effective immediately. The Board would like to thank Mr. Gillis for his outstanding service to the Company and wishes him the best in his future endeavors.
In support of the Company and its management, the Board is pleased to announce that Mr. Donald Archibald has agreed to assume the role of Executive Chairman of Cequence and Mr. Howard Crone has agreed to assume the role of Executive Vice President and Interim CFO of Cequence. As part of the executive team, Mssrs Archibald and Crone will continue working with management and the Board towards identifying and pursuing various strategic alternatives for the benefit of the Company and its stakeholders, including, but not limited to, the sale of the Company, the sale of assets and the refinancing of the $60 million of unsecured notes held by CPPIB, due October 2018.
Cequence is a publicly traded Canadian energy company involved in the acquisition, exploitation, exploration, development and production of natural gas and crude oil in western Canada. Further information about Cequence may be found in its continuous disclosure documents filed with Canadian securities regulators at www.sedar.com.