High Arctic Energy Services Inc. (TSX: HWO) announced on Monday that it has dissolved its restructuring committee and that the Toronto Stock Exchange has lifted a listing review of the public company.
The Red Deer-based company, which provides specialized oilfield equipment and services, reported on May 3 that it had closed a number of restructuring transactions to reduce its debt load.
It said then that the TSX had granted it a financial hardship exemption from security-holder approval requirements, which in turn had triggered a review to ensure High Arctic continued to meet TSX listing requirements.
The company said on Monday that the TSX has determined that it satisfies those requirements.
It added that its restructuring committee has now fulfilled its mandate, with chief restructuring officer Dennis Sykora moving into the role of executive vice-president and general counsel.
High Arctic operates throughout Western Canada, with international operations primarily in Papua New Guinea.