News Release

Cancarb CEO to Retire, Successor Announced

January 22, 2015

Cancarb today announced that the company's President and CEO, Dave Petrie has decided to retire effective March 31, 2015. Dave has worked at Cancarb in various capacities over the past 19 years and was appointed President in October 2008. He successfully led Cancarb through the past 6 years and Cancarb's acquisition by Tokai Carbon Co. Limited in 2014.

Dave's successor, Ken Tate, will join Cancarb February 1, 2015 and will assume the role of President and CEO effective April 1. Mr. Tate has over 25 years of experience in the energy industry in natural gas and power markets. He previously served as President of Cancarb from 2004 to 2006. Mr. Tate holds a Master of Business Administration degree from Queen's University in Kingston, Ontario and a Master of Arts (Economics) from the University of Waterloo in Waterloo, Ontario.

Cancarb is the global leader in the production and marketing of thermal carbon black with customers in 44 countries. Our plant, located in Alberta, Canada, uses state of the art technology to ensure that our Thermax® brand products are of the highest quality and consistency and are produced efficiently and in an environmentally responsible manner. Visit Cancarb our website at for more company information.

For further information, please contact:

Cancarb Limited: Mr. Dave Petrie: +1.403.527.1121