Savanna Energy board of directors resigns amid Total takeover

directors
Savanna Energy board of directors resigns

All the directors of Savanna, with the exception of Allen Brooks, resigned

Savanna Energy Services Corp. and Total Energy Services Inc. announced the current board of directors of Savanna have all resigned save one, according to a press release.

Chris Strong also announced he has resigned as president and CEO of Savanna. The new Savanna board will begin looking for his replacement immediately.

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This follows Total Energy’s recent acquisition of common shares of Savanna, and the termination of Savanna’s arrangement agreement with Western Energy Services Corp.

Effective immediately, all of the directors of Savanna, with the exception of Allen Brooks, resigned as directors of Savanna and seven new directors were appointed.

The Savanna Board is now comprised of Allen Brooks, George Chow, Darcy Draudson, Daniel Halyk, Gregory Melchin, Bruce Pachkowski, Stan Smith, Lyle Whitmarsh.

Following the extension of Total Energy’s offer to purchase the outstanding Savanna common shares announced on March 25, the offer is scheduled to expire at 12 p.m. (Pacific time) on April 7.

If Savanna shareholders have any questions regarding the Total Offer or how to tender their Savanna common shares, they should contact Laurel Hill Advisory Group at 1-877-452-7184 (Toll Free in North America) or 1-416-304-0211 (Collect Outside North America) or by email at assistance@laurelhill.com.