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Information Releases

November 23, 2017

Laricina Energy Announces Changes to the Board of Directors


Laricina Energy Ltd. (“Laricina” or the “Company”) announces today that Barry Jackson has resigned from the Company’s Board of Directors ( the "Board"), a position he has held since December 6, 2005. The Company wishes to thank Mr. Jackson for his longstanding contributions, leadership and dedication to the Board over the past almost 12 years.

The Company also announces the resignation of Andrew Darling from the Board. CPPIB Credit Investments Inc. (“CPPIB Credit”) a wholly-owned subsidiary of the Canada Pension Plan Investment Board, is entitled, pursuant to a participation agreement with Laricina dated November 30, 2015, to nominate up to three of the five directors to the Board by virtue of its registered and beneficial ownership interest in the equity of Laricina. Mr. Darling acted as one such nominee since November 2016. CPPIB Credit expects to nominate a replacement director for Mr. Darling in the near future. Laricina extends its thanks to Mr. Darling for his contributions to the Board of Directors over the last year.

To fill the other Board vacancy, the Company announces the appointment of Garry Mihaichuk to the Board on November 21, 2017.

Mr. Mihaichuk is a corporate director who has served as a director on 14 public and private companies since 1996. He is currently the director of the following public companies: Greenfields Petroleum Corporation, Badger Daylighting Ltd. and Nordic Petroleum AS. He is also currently a director of the following private companies: Nordcon Canada Inc. and RLG International.  Mr. Mihaichuk brings a wealth of oil and gas experience, including having served as the Vice President of Heavy Oil and Oil Sands for Husky Energy Inc. from 2005 to 2007 and as a director of Connacher Oil and Gas Ltd. from 2012 to 2015. He holds a B.Sc. Mechanical Engineering from Queen’s University, a Global Leadership diploma from Michigan University, a PMD diploma from Harvard University and an ICD.D designation from the Institute of Corporate Directors.

Ian Bruce has indicated his intention to step down from the Board before the end of the year. Further information regarding director appointments will be forthcoming at that time and in advance of the information circular for the annual shareholders' meeting which is expected to be held on January 31, 2018.

About Laricina Energy Ltd.

The Company’s current focus and scope of activities is on preserving the integrity and value of its assets, and on exploring alternatives to leverage the Company’s assets, capitalize on emerging opportunities and potentially resume development of its oil sands properties when favorable market conditions return. A small complement of employees and consultants are continuing under a scaled-back business plan with an emphasis on cost control.

For further information please visit www.laricinaenergy.com or contact:

Diane Koenig
Executive Vice President
(403) 750-0810
Laricina Energy Ltd.
East Tower, Fifth Avenue Place
800, 425 – 1st Street SW
Calgary, AB  T2P 3L8

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