Hanwei Defers Annual Meeting of Shareholders

Hanwei Energy Services Corp. (TSX: HE)

 (“Hanwei” or the “Company”), today announced that after careful consideration, it has elected to defer the timing of its 2021 Annual General Meeting of shareholders, which is normally held in September. Hanwei is currently exploring alternative business strategies, and plans to hold the Annual General Meeting within the next 4 months.

This decision was not taken lightly. Ultimately, the Company wishes to ensure that all required pandemic travel restrictions are observed, and our main objective is always to keep our employees and shareholders safe and well.

About Hanwei Energy Services Corp.

Hanwei’s principal business operations are in the oil and gas industry as an equipment supplier to the industry (as a manufacturer of high pressure, fiberglass reinforced plastic (FRP) pipe products serving energy customers in the global energy market).

For more information, please contact:

Mary MaChief Financial [e-mail]

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION AND NON-GAAP MEASURES

Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions a description of which is set out in the risk factors section of the Company’s Annual Information Form dated June 24, 2021 and Management Discussion and Analysis for the year ended March 31, 2021 both of which are filed with Canadian securities regulators and available on SEDAR at www.sedar.com. The forward-looking information in this press release describes the Company’s expectations as of the date of this press release.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, THE COMPANY DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED BY APPLICABLE SECURITIES LEGISLATION.