CALGARY, Alberta, Nov. 14, 2018 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream” or the
“Company”) (TSX: CSM) announces today the appointment of Randy Watt as its Chief Financial Officer (“CFO”). Mr. Watt is a senior
executive with a 25-year track record of leading and working with successful national and global organizations, having previously
served as the CFO of Access Pipeline Inc., a mid-size Calgary-based pipeline and transportation company. During his tenure at
Access Pipeline Inc., Mr. Watt led the business transformation to execute the company’s strategic investments and improve its
profitability.
ClearStream’s CEO Yves Paletta commented: “We are pleased to welcome Randy as our new CFO. With the addition of
Mr. Watt’s vast experience in solving companies’ growth challenges both organically and through acquisitions, we are confident in
the ability of our experienced management team to lead ClearStream into a new phase of profitable growth.”
Mr. Watt added: “I am excited for the opportunity to be joining the Executive Team at ClearStream as it
continues on its path of strategic growth initiatives. I look forward to supporting the business transformation to the next level,
as ClearStream seeks to expand its scope of services and geographical footprint with more value-added solutions and
technologies.”
Mr. Watt brings experience in strategic financial management with a focus on growth, strong business processes,
and operational execution. Prior to his CFO role at Access Pipeline Inc., Mr. Watt was a leader in Deloitte and PwC and an advisor
to Executives and CFOs of large Canadian and Global organizations, solving their most critical challenges, including mergers and
acquisition integration, balance sheet optimization, and performance management to drive shareholder value.
About ClearStream Energy Services Inc.
With a legacy of excellence and experience stretching back more than 50 years, ClearStream provides solutions to
the Energy and Industrial markets including: Oil & Gas, Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and
Water Treatment. With offices strategically located across Canada and over 3,000 employees, we provide maintenance, construction
and environmental services that keep our clients moving forward. For more information about ClearStream, please visit www.ClearStreamEnergy.ca.
Forward Looking Statement
Certain information included in this press release may constitute forward-looking information within the meaning
of securities laws. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”,
“expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other
similar expressions concerning matters that are not historical facts.
Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual
events or results to differ materially from the events and results discussed in the forward-looking information including risks
related to integration risk, conditions of capital markets, economic conditions, dependence of key personnel, interest rates,
regulatory change, ability to meet working capital requirements and capital expenditure needs, factors relating to the weather and
availability of labour. These factors should not be considered exhaustive. Risks and uncertainties about ClearStream’s business are
more fully discussed in ClearStream’s disclosure materials, including its annual information form and MD&A, filed with the
securities regulatory authorities in Canada and available at www.sedar.com. In formulating forward-looking information herein,
management has assumed that business and economic conditions affecting ClearStream will continue substantially in the ordinary
course, including without limitation with respect to general levels of economic activity, regulations, taxes and interest
rates.
Although the forward-looking information is based on what management of ClearStream consider to be reasonable
assumptions based on information currently available to it, there can be no assurance that actual events or results will be
consistent with this forward-looking information, and management’s assumptions may prove to be incorrect.
This forward-looking information is made as of the date of this release, and ClearStream does not assume any
obligation to update or revise it to reflect new events or circumstances except as required by law. Undue reliance should not be
placed on forward-looking information. Forward-looking statements are provided for the purpose of providing information about
management's current expectations and plans relating to the future. Readers are cautioned that such information may not be
appropriate for other purposes.
For further information, please contact:
Yves Paletta
Chief Executive Officer
ClearStream Energy Services Inc.
ypaletta@clearstreamenergy.ca
