CALGARY, Alberta, May  09, 2023  (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. (“Calfrac”) (TSX–CFW) is pleased to announce the voting results of the election of directors at its annual and special meeting of shareholders held today. Each of the nominees proposed as a director, including new nominee Holly A. Benson, were elected as directors to hold office until the next annual meeting of shareholders, or until their successors are elected or appointed. Detailed results of the voting for each nominee are set out below, and the full results on all matters voted upon at the meeting will be filed on Calfrac’s profile on SEDAR (www.sedar.com).

“On behalf of the management team and board of directors, I am very pleased to welcome Holly to Calfrac,” said Ronald P. Mathison, Chairman. He added, “Holly’s financial expertise and business experience will add considerable value to the board of directors as we continue to execute on our strategic priorities.”

Mrs. Benson is an independent businessperson with a Chartered Public Accountant designation and the former Vice President, Finance and Chief Financial Officer of Peters & Co. Limited, a registered investment dealer, from 1999 to 2020. Mrs. Benson has her ICD.D designation from the Institute of Corporate Directors, currently serves as a director of Rubellite Energy Inc., a public crude oil exploration and development company, and has served on various industry committees and boards, including as a director of the Investment Industry Regulatory Organization of Canada (IIROC) from 2015 to 2021.

NomineeVotes ForVotes AgainstNumber%Number%Ronald P. Mathison53,671,93988.75%6,802,62011.25%Douglas R. Ramsay54,045,99289.37%6,428,56710.63%George S. Armoyan52,284,78486.46%8,189,77513.54%Anuroop Duggal52,600,46986.98%7,874,09013.02%Charles Pellerin59,280,58898.03%1,193,9711.97%Pat Powell55,141,04391.18%5,333,5168.82%Chetan Mehta60,411,92799.90%62,6320.10%Holly A. Benson59,036,55897.62%1,438,0012.38%

Calfrac’s common shares and warrants are publicly traded on the Toronto Stock Exchange under the trading symbols “CFW” and "CFW.WT", respectively. Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells with continuing operations in throughout western Canada, the United States and Argentina. Further information regarding Calfrac Well Services Ltd., including the most recently filed Annual Information Form, can be accessed on Calfrac’s website at www.calfrac.com or under the Company’s public filings found at www.sedar.com.

For further information on this press release, please contact:

Pat PowellMichael OlinekChief Executive OfficerChief Financial OfficerTelephone: (587) 955-1724Telephone: (403) 234-6673Fax: (403) 508-1342Fax: (403) 508-1342