Le Lézard
Classified in: Business
Subject: BOARD OF DIRECTORS

Badger Infrastructure Solutions Ltd. Announces Resignation of Chief Financial Officer and Appointment of Interim Chief Financial Officer


CALGARY, Alberta, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Badger Infrastructure Solutions Ltd. ("Badger" or the "Company") (TSX:BDGI) announced today the resignation of Mr. Darren Yaworsky, Senior Vice President, Finance & Chief Financial Officer and the appointment of Mr. Pramod Bhatia as interim Chief Financial Officer. Mr. Yaworsky will remain with the Company until December 31, 2022 to facilitate an orderly transition.

"I would like to thank Darren for his dedication and leadership during his time with Badger. Darren played an integral role in the Company's development and, in particular, with the continued maturation of the Finance and Information Technology groups. I would also like to thank Darren for his support during my transition into the President & Chief Executive Office role at Badger and wish him all the best in his next role at a company located closer to family," stated Rob Blackadar, President & Chief Executive Officer.

"I am very proud to have played a meaningful role with Badger and I would like to thank the entire Badger team for their support, trust and friendship over the past several years. The Company is very well positioned to execute on its strategic growth plan and I wish Rob and the team much success," said Darren Yaworsky.

"We have initiated a search for a new Chief Financial Officer and will provide updates when appropriate," said Mr. Blackadar.

About Badger Infrastructure Solutions Ltd.

Badger Infrastructure Solutions Ltd. (TSX:BDGI) is North America's largest provider of non-destructive excavating services. Badger works for contractors and facility owners in a broad range of infrastructure industries. These market segments consist primarily of infrastructure projects in areas such as energy generation, electricity and natural gas transmission networks, roads and highways, telecommunications, water and sewage treatment and general municipal infrastructure. Customers in these segments typically operate near high concentrations of underground power, communication, water, gas and sewer lines, particularly in large urban centres where safety and economic risks are high and therefore non-destructive excavation provides a safe alternative for certain customer excavation requirements.

The Company's key technology is the Badger HydrovacTM, which is used primarily for safe excavation around critical infrastructure and in congested underground conditions. The Badger Hydrovac uses a pressurized water stream to liquify the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. To complement the Badger Hydrovac, the Company began field-testing prototype air excavation units, Badger AirvacTM Pending, in late 2021. The Airvac is used like a Badger Hydrovac for safe excavation. The Airvac utilizes compressed air versus water to loosen the cover soil before vacuuming and depositing into a storage tank.

The Badger Airvac complements the Badger Hydrovac, and both are designed and manufactured by Badger. Badger's vertical integration increases the certainty of non-destructive excavation unit supply to support the Company's growth and retirement replacement requirements at a cost less than purchasing from third party manufacturers. The vertical integration also allows Badger the opportunity to incorporate feedback from its non-destructive excavation unit operators and customers into its design and manufacturing processes, and reduces fleet downtime for repairs due to integrated repair part availability.

For further information:
Rob Blackadar, President & Chief Executive Officer              
Pramod Bhatia, Vice President Strategic Planning and Enterprise Risk & Interim Chief Financial Officer
Trevor Carson, Vice President, Investor Relations and Corporate Development

Badger Infrastructure Solutions Ltd.
ATCO Building II
4th Floor, 919 11th Avenue, SW
Calgary, Alberta T2R 1P3
Telephone (403) 264-8500
Fax (403) 228-9773

Source: Badger Infrastructure Solutions Ltd.



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News published on 21 november 2022 at 17:00 and distributed by: