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    PPR   CA73965Q1028

PRAIRIE PROVIDENT RESOURCES INC.

(PPR)
  Report
Delayed Toronto Stock Exchange  -  03:33 2022-08-18 pm EDT
0.2150 CAD   -2.27%
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Prairie Provident Announces New Board Member

06/26/2022 | 05:00pm EDT

CALGARY, Alberta, June 26, 2022 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the appointment of Matthew Shyba to its Board of Directors (the “Board”), effective July 1, 2022.

Mr. Shyba owns 4,238,097 common shares of PPR, representing approximately 3.3% of the issued and outstanding common shares of PPR. He is a corporate lawyer and private investor with over 10 years of capital markets experience, with significant expertise in corporate finance, corporate governance and mergers & acquisitions. In addition, he is currently Chief Executive Officer of Shyba Capital Inc., a private investment company based in Calgary. Mr. Shyba previously practiced in the securities and capital markets group at Borden Ladner Gervais LLP and subsequently held senior legal roles, including as General Counsel, at large public and private organizations. He obtained his Juris Doctor from the Schulich School of Law at Dalhousie University.

Tony Berthelet, President and Chief Executive Officer of PPR, commented: "The addition of Mr. Shyba as an independent non-executive Director is an important step in enhancing our Board’s alignment with shareholders. We are confident that Mr. Shyba’s perspective and capital markets experience will be extremely important as we work towards unlocking shareholder value."

ABOUT PRAIRIE PROVIDENT:

Prairie Provident is a Calgary-based company engaged in the exploration and development of oil and natural gas properties in Alberta. The Company's strategy is to optimize cash flow from our existing assets, grow a base waterflood business in Evi (Slave Point Formation) and Michichi (Banff Formation) providing stable low decline cash flow, and organically develop a new complementary play to facilitate reserves and production growth. The Princess area in Southern Alberta continues to provide short cycle returns through successful development of the Glauconite and Ellerslie Formations.

For further information, please contact:

Prairie Provident Resources Inc.
Tony Berthelet
President and Chief Executive Officer
Tel: (403) 292-8125
Email: tberthelet@ppr.ca

Jason Dranchuk
Vice President, Finance and Chief Financial Officer
Tel: (403) 292-8150
Email: jdranchuk@ppr.ca


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Source: Prairie Provident Resources Inc.

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Financials
Sales 2022 - - -
Net income 2022 - - -
Net Debt 2022 126 M 97,5 M 97,5 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 28,0 M 21,6 M 21,6 M
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 38
Free-Float 96,7%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,22 CAD
Average target price 0,30 CAD
Spread / Average Target 39,5%
Managers and Directors
Remi Anthony Berthelet President, Chief Executive Officer & Director
Jason B. Dranchuk Chief Financial Officer & Vice President-Finance
Patrick R. McDonald Chairman
Ryan Rawlyk Vice President-Production & Operations
Ajay Sabherwal Independent Director
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