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Cervus Announces Chief Financial Officer Retirement and Successor Appointment

CALGARY, Alberta (November 23, 2017) -- Cervus Equipment Corporation (“Cervus” or the “Company”) (TSX: CERV) today announced that at the end of 2017, its Chief Financial Officer (CFO) Randy Muth will retire after nearly 13 years with Cervus. Adam Lowther, currently Director of Finance at Cervus, will be promoted to CFO effective January 1, 2018.

“Randy and Adam have worked together for many years, and given Cervus’ commitment to succession planning and leadership development, I am confident that Adam possesses the experience and expertise to assume the role of CFO in a seamless transition,” said Graham Drake, President and CEO of Cervus. “On behalf of the Board of Directors and Cervus employees, I would like to thank Randy for his dedication and contributions to Cervus, and wish him the best for a well-deserved retirement.”  

Shortly after joining Cervus in 2013, Adam played a key role in the 20 dealership acquisitions the Company completed in 2014, and as Director of Finance, Adam led Cervus’ forecasting, treasury, internal controls, and financial reporting activities. Prior to joining Cervus, Adam specialized in transaction advisory and valuation, both in the private sector and public practice. Adam is a designated Chartered Accountant, Chartered Professional Accountant, Chartered Business Valuator, and a CFA charterholder.  He holds a Bachelor of Commerce from the University of Calgary. 

About Cervus Equipment Corporation 

Cervus acquires and operates authorized agricultural, construction, transportation and material handling equipment dealerships. The company has interests in 63 dealerships in Canada, New Zealand and Australia, employing more than 1,500 people.  The primary equipment brands represented by Cervus include John Deere agricultural equipment; Peterbilt transportation equipment; Bobcat, CMI and JCB construction equipment; and Clark, Sellick and Doosan material handling equipment. The common shares of Cervus are listed on the Toronto Stock Exchange and trade under the symbol "CERV".

For more information please contact: 

Graham Drake – President & CEO  
(403) 567-2095
[email protected]

Randy Muth – Chief Financial Officer
(403) 567-2097
[email protected]

Forward Looking Information

This press release contains certain forward‐looking information ("forward‐looking information") within the meaning of applicable Canadian securities laws. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. Forward‐looking information is not a guarantee of future performance and involves a number of assumptions and a number of risks and uncertainties some of which are described herein. These risks and uncertainties include the risks identified under the heading "Risk Factors – Risks Related to the Business" in the 2016 Annual Information Form of Cervus Equipment Corporation dated March 15, 2017, available electronically at www.sedar.com under Cervus’ profile. Cervus believes the expectations reflected in such forward‐looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. You are cautioned that the preceding list of assumptions and risks is not exhaustive. Any forward‐looking information is made as of the date hereof and, except as required by law, Cervus assumes no obligation to publicly update or revise such information to reflect new information, subsequent or otherwise. 

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.