July 26, 2016 5:31 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Dixie Energy Holdings (Canada) Ltd.

Company Overview

Dixie Energy Holdings (Canada) Ltd. acquires, exploits, and develops crude oil and gas reserves in the United States gulf coast states. The company is headquartered in Canada. Dixie Energy Holdings (Canada) Ltd. operates as a subsidiary of Dixie Energy Trust.

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Key Executives for Dixie Energy Holdings (Canada) Ltd.

Chief Financial Officer and Vice President of Finance
Compensation as of Fiscal Year 2016.

Dixie Energy Holdings (Canada) Ltd. Key Developments

Dixie Appoints Michael Kelly to Board of Directors of Dixie Canada

Dixie announced the appointment of Mr. Michael Kelly to the board of directors of Dixie Canada. Currently, Mr. Kelly is consulting with ARC Financial Corp. where is he actively pursuing investment opportunities in the Canadian oil and gas service industry.

Dixie Energy Holdings (Canada) Ltd. Announces Executive Changes; Enters into a Bridge Loan Agreement with the Atkinson Family Trust

Mr. Kevin Dumba has resigned as Chief Financial Officer of Dixie Energy Holdings (Canada) Ltd. effective July 31, 2014 to pursue other business interests. Mr. Dumba joined Dixie Energy in 2012. Mr. Dumba will assist the incoming CFO to ensure a smooth transition as Dixie assumes operatorship and evaluates the conversion from a trust to a corporate structure. Dixie announced the appointment of Mr. Calvin Yau as CFO and Vice President Finance of Dixie Energy Holdings (Canada) Ltd. effective August 1, 2014. Mr. Yau brings over a decade of financial and accounting experience specifically in the oil and gas industry to his role at Dixie. He began his career in the audit and assurance group at Grant Thornton LLP. Additionally, Dixie Energy Holdings (Canada) Ltd. has entered into a loan agreement with The Atkinson Family Trust pursuant to which Atkinson Trust has provided Dixie Canada with a secured bridge loan in the aggregate principal amount of CAD 3,500,000. The Atkinson Loan bears interest at a rate of 15% per annum and matures and becomes fully repayable on October 30, 2015. The Atkinson Loan does not require Dixie Canada to pay a facility fee. The funds from the Atkinson Loan are expected to be used for general corporate purposes. The Bridge Loans are secured by the assets of Dixie US and Dixie Energy Holdings (Maple Branch), LLC. In addition, Dixie reimbursed Britannia and the Atkinson Trust for expenses incurred by each of them in connection with the Bridge Loans.

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