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AKITA announces Chief Financial Officer succession plan

Jan 15, 2016

CALGARY, Jan. 15, 2016 /CNW/ - AKITA Drilling Ltd. ("AKITA" or the "Company") announced today that Murray Roth, Vice President, Finance and Chief Financial Officer, has provided AKITA with notification of his intention to retire on May 13, 2016.  Mr. Roth has been the senior financial officer for AKITA since the Company's formation in 1993.  AKITA is also pleased to announce that Darcy Reynolds will be appointed Vice President, Finance effective May 14, 2016.

"Murray's knowledge, strong work ethic and commitment to excellence have been greatly appreciated over the years.  I am very thankful for his many contributions which have been invaluable to the organization and the success we have achieved.  I wish him all the best in his pending retirement and future endeavours," said Karl Ruud, President and Chief Executive Officer of AKITA.

Darcy Reynolds joined AKITA in January, 2011 and has been responsible for increasingly important roles in the Company including being Corporate Controller, a position that he currently holds.  Previously, he worked for a leading firm of Chartered Accountants for four years where he served as a senior accountant and as a senior tax analyst.

"Darcy brings a strong financial background and a clear understanding of our business drivers," said Mr. Ruud.  "We are pleased to have strong succession candidates in place in AKITA to allow us to ensure seamless transitions.  Darcy's breadth and depth of experience will ensure we maintain our strong financial position and focus on excellence."

AKITA is an Alberta corporation engaged in the contract drilling business in Western Canada and the North and is listed on the Toronto Stock Exchange under the symbol AKT.

SOURCE AKITA Drilling Ltd.

For further information: Karl Ruud, President and Chief Executive Officer, (403) 292-7950, Web site: