On May 4, 2016, the Board of Directors of PetroShare Corp. expanded its membership from three to five members and appointed Messrs. Scott Chandler and James Sinclair to fill the vacancies created by the increase. Messrs. Chandler and Sinclair will serve in those positions until the next annual meeting of the Company’s shareholders’ and until their successors are elected and qualified, or until either or both of them are removed. Scott Chandler has over 25 years of senior executive level management experience. He is the founder and owner of Franklin Court Partners Inc. Prior to founding FCP, Mr. Chandler was a founder, Chief Financial Officer and senior vice president for Rhythms Netconnections Inc., where he served from 1998 to 2001. Mr. Chandler was a member of the senior management team that led this national provider of DSL networking and services prior to the sale of a majority of its assets to MCI Worldcom. From 1996 to 1998, Mr. Chandler served as President and Chief Executive Officer of C-COR Incorporated. James Sinclair has over 31 years of experience in exploration, development, acquisitions and divestitures in the oil and gas industry. Beginning in April 2014, Mr. Sinclair began serving as Chief Operating Officer of Providence Energy Operators, LLC.