Spark Power Group Inc.: Spark Power Announces Appointment of Two Additional Directors and Appointment of New Chair and Lead Independent Director

OAKVILLE, ON / ACCESSWIRE / December 22, 2021 / Spark Power Group Inc. (TSX:SPG), parent company of Spark Power Corp. ("Spark Power" or the "Company"), is pleased to announce the appointment of Eric Waxman and Dan Ardila to the Company's Board of Directors (the "Board"), effective December 21, 2021.

Eric Waxman is Spark Power's Co-Founder & Chief Investment Officer, with over 20 years of extensive experience with M&A, investment banking, corporate finance and private equity. Prior to co-founding Spark Power, he was the President of Spara Capital Partners. Eric holds a bachelor's degree from the University of Western Ontario and MBA from the Schulich School of Business at York University.

Dan Ardila recently announced his retirement as Executive Vice President & Chief Financial Officer of Spark Power effective December 31, 2021. Dan has over 30 years of financial leadership experience in the industrial, commercial, and consumer packaged goods industry. His previous career experience includes Chief Financial Officer roles at Algoma Steel Inc., CPI Plastics Group Ltd., and 6N Silicon Inc. Dan received his Bachelor of Business Management, Accounting and Finance from Ryerson University, and holds CA and CPA designations.

"We would like to welcome Eric and Dan into their new roles as directors on the Company's Board," said Richard Jackson, President and Chief Executive Officer of Spark Power. "Eric, as a Co-Founder & Chief Investment Officer of the Company, and Dan, as the Company's former Executive Vice President & Chief Financial Officer, both possess an intimate knowledge of the Spark Power's operations and strategic direction and will be valuable assets on the Board."

The Company is also pleased to announce the appointment of Jason Sparaga as Chair of the Board effective December 21, 2021. Larry Taylor has been appointed as Lead Independent Director of the Board effective December 21, 2021.

Following these appointments, the Company's Board will be comprised of eight directors, being Jason Sparaga (Chair), Andrew Clark (Vice Chair), Larry Taylor (Lead Independent Director), Dan Ardila, Lucio Di Clemente, Daniel Peloquin, Joseph Quarin and Eric Waxman.

The Company also intends to increase the size of the Board to nine at its next annual meeting of shareholders and to nominate Richard Jackson, Spark Power's President & Chief Executive Officer, as a director.

About Spark Power
Spark Power is a leading independent provider of end-to-end electrical services, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America. We work to earn the right to be our customers' Trusted Partner in Power. Our highly skilled and dedicated people, located in the communities we serve, combined with our knowledge of the power industry, technology expertise, and commitment to safety, ensures we deliver the right solutions that keep our customers' operations up and running today and better equipped for tomorrow. Learn more at www.sparkpowercorp.com.

Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws), which reflect Spark Power's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this press release include statements regarding the Company's intention to increase the size of the Board and nominate an additional director. The forward-looking statements in this news release are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Such factors include, among others: the ability of the Company to find a suitable strategic partner, potential buyer or participants for a financing; currency fluctuations; disruptions or changes in the credit or security markets; results of operations; and general developments, market and industry conditions. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Spark Power assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor and Regulatory Inquiries:
Richard Perri, Executive Vice President & Chief Financial Officer
[e-mail]
[phone]

Media Inquiries:
Kim Samlall, Director, Marketing Communications
[e-mail]
[phone] x185

SOURCE: Spark Power Group Inc.

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