CALGARY, AB, March 16, 2022 /CNW/ – MEG Power Corp. (TSX: MEG) (“MEG” or the “Company”) right now introduced that following a profitable 9-year profession at MEG, Eric L. Toews plans to retire efficient September 1, 2022. Mr. Toews has agreed to proceed in his position as Chief Monetary Officer till his successor is appointed, after which stay with the Company throughout a transition interval till his retirement date.
MEG intends to conduct an exterior seek for its subsequent Chief Monetary Officer and can retain an govt search agency to help on this course of.
“On behalf of your entire Board and administration workforce, I thank Eric for his dedication and beneficial contributions throughout his time at MEG,” stated Derek Evans, President and Chief Government Officer. “Eric has led quite a few strategic initiatives which have reworked MEG’s steadiness sheet, together with the sale of the Entry Pipeline and the completion of quite a few complicated refinancing transactions which have been instrumental in getting us to the place we’re right now the place we will start returning capital to shareholders. On a private notice, Eric has been an incredible associate. I’m grateful to have had the chance to work alongside him these final 4 years and I want him all the very best sooner or later.”
“I’m extraordinarily proud to have been in a position to play a component in getting MEG to the place it’s right now,” Toews stated. “Beneath Derek’s sturdy management, I’m assured I’m leaving MEG at a time the place the transition to the subsequent CFO shall be seamless, and that particular person shall be becoming a member of a really sturdy administration workforce with a confirmed monitor report of shareholder worth creation.”
About MEG
MEG is an power firm centered on sustainable in situ thermal oil manufacturing within the southern Athabasca oil area of Alberta, Canada. MEG is actively creating progressive enhanced oil restoration initiatives that make the most of steam-assisted gravity drainage extraction strategies to enhance the accountable financial restoration of oil in addition to decrease carbon emissions. MEG transports and sells thermal oil (AWB) to prospects all through North America and internationally. MEG’s frequent shares are listed on the Toronto Inventory Change beneath the image “MEG” (TSX: MEG).
Be taught extra at www.megenergy.com
ADVISORY
Ahead-Wanting Info
Sure statements contained on this information launch might represent forward-looking statements inside the which means of relevant Canadian securities legal guidelines. These statements relate to future occasions or MEG’s future efficiency. All statements aside from statements of historic truth could also be forward-looking statements. The usage of any of the phrases “anticipate”, “proceed”, “estimate”, “anticipate” or “anticipated”, “might”, “will”, “could have”, “venture”, “ought to”, “consider”, “dependent”, “means”, “leaving”, “plan”, “intend”, “goal”, “potential” and comparable expressions are meant to establish forward-looking statements. Ahead-looking statements are sometimes, however not at all times, recognized by such phrases. These statements contain identified and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Particularly, and with out limiting the foregoing, this information launch accommodates forward-looking statements with respect to MEG’s intentions with respect to the discovering a successor chief monetary officer and the Company’s means to ship on its deleveraging and shareholder return technique. Such forward-looking info is predicated on sure assumptions and evaluation made by MEG in mild of its expertise and notion of present situations and anticipated future developments in addition to different elements it believes are applicable within the circumstances. Nevertheless, whether or not precise outcomes, efficiency or achievements will conform to MEG’s expectations and predictions is topic to quite a few identified and unknown dangers and uncertainties which might trigger precise outcomes to vary materially from MEG’s expectations. Additional info concerning the assumptions and dangers inherent within the making of forward-looking statements could be present in MEG’s most just lately filed Annual Info Kind (“AIF”), together with MEG’s different public disclosure paperwork. Copies of the AIF and MEG’s different public disclosure paperwork can be found by the Firm’s web site at www.megenergy.com/traders and thru the SEDAR web site at www.sedar.com. The forward-looking info included on this information launch is expressly certified in its entirety by the foregoing cautionary statements. Until in any other case said, the forward-looking info included on this information launch is made as of the date of this information launch and MEG assumes no obligation to replace or revise any forward-looking info to mirror new occasions or circumstances, besides as required by legislation.
For additional info, please contact:
Investor Relations
T 403.767.0515
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SOURCE MEG Power Corp.
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