High Arctic Declares Monthly Dividend

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NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF US SECURITIES LAW

CALGARY, Alberta, Aug. 19, 2022 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) « High Arctic » or the « Company » is pleased to announce that its Board of Directors has approved the payment of a monthly dividend of $0.005 per share to common shareholders. The dividend is payable on September 14, 2022 to holders of High Arctic common shares of record at the close of business on August 31, 2022. The dividend is designated as an « eligible dividend » for Canadian income tax purposes.

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About the High Arctic

High Arctic is an energy service provider. High Arctic is a market leader in Papua New Guinea, providing specialist well drilling and completion services and providing rental equipment including drill mats, camps, handling and support equipment to the drilling. In Western Canada, High Arctic provides nitrogen services and rental pressure control equipment to exploration and production companies.

For more information, please contact:

Lance Mierendorf
Financial director
1.403.508.7836
1.800.668.7143

High Arctic Energy Services Inc.
Suite 2350, 330–5th Avenue SW
Calgary, Alberta, Canada T2P 0L4
website: www.haes.ca
Email: info@haes.ca