Announcement • Mar 30

Canacol Energy Ltd. Announces Resignation of Peter Laurinaitis as Independent Director

Canacol Energy Ltd. announced that, on March 26, 2026, the Court of King’s Bench of Alberta granted an order in the Company’s ongoing restructuring proceedings under the Companies’ Creditors Arrangement Act (Canada) approving the engagement of Breakpoint Advisory Partners LLC as Chief Restructuring Officer of the Company. Breakpoint will oversee and direct at the management level all Company strategic, transactional, and operational matters in connection with the Company’s restructuring. Breakpoint will provide direct input and advice to the Board of Directors of Canacol. These services will be provided through Breakpoint personnel including Mr. Peter Laurinaitis, Mr. Jeffrey Stein and Mr. Joe Turner. Mr. Laurinaitis was an independent director of Canacol. Mr. Laurinaitis disclosed his interest in Breakpoint and abstained from voting on Breakpoint's appointment as Chief Restructuring Officer. Following the Chief Restructuring Officer appointment, Mr. Laurinaitis has resigned as an independent director from the Board. Breakpoint and Mr. Laurinaitis will continue to attend Board and special committee meetings to assist and support the Board during the Company’s restructuring efforts. Peter Laurinaitis is an experienced financial advisor and investment banker with 30 years of transactional experience in financial restructuring, capital raising, mergers & acquisitions, special situations, and corporate turnarounds. Mr. Laurinaitis currently serves as a Managing Partner of Breakpoint Partners LLC, a restructuring and special situations advisory firm. Previously and over the last 24 years, Mr. Laurinaitis served as a Partner in both the Restructuring and Special Situations Group of PJT Partners and the Restructuring Group at Blackstone. Mr. Laurinaitis also served as a CPA and turnaround consultant in the Corporate Restructuring Group of Arthur Andersen.

Announcement • Feb 23

+ 1 more update

Canacol Energy Ltd. Announces Board and Executive Changes

Canacol Energy Ltd. announced a leadership change and the appointment of an independent director to the board of directors (the “Board”). The Board believes that these changes will position the Company for success in the next phase of its restructuring by adding substantial restructuring experience to the Board. The Company announced the departure of Dr. Charle Gamba from the role of President effective immediately. The Company also announces the appointment of Mr. Peter Laurinaitis as an independent director to the Board. Mr. Laurinaitis is a highly accomplished and respected financial advisor and investment banker and an important addition to the Board providing strategic and technical capabilities as a veteran in restructuring matters. Peter Laurinaitis is an experienced financial advisor and investment banker with 30 years of transactional experience in financial restructuring, capital raising, mergers & acquisitions, special situations, and corporate turnarounds. Mr. Laurinaitis currently serves as a Managing Partner of Breakpoint Partners LLC, a restructuring and special situations advisory firm. Previously and over the last 24 years, Mr. Laurinaitis served as a Partner in both the Restructuring and Special Situations Group of PJT Partners and the Restructuring Group at Blackstone. Mr. Laurinaitis also served as a CPA and turnaround consultant in the Corporate Restructuring Group of Arthur Andersen. Mr. Laurinaitis holds a BSBA and an MSA from the University of Central Florida and an MBA from the Wharton School of the University of Pennsylvania. He is a Certified Public Accountant, Certified Insolvency and Restructuring Advisor, and a Certified Turnaround Professional. Mr. Laurinaitis recently served as the Chairman of the Board of FirstElement Fuel Inc., a California-based hydrogen infrastructure company, and currently serves as Independent Director of Solo Brands Inc., Independent Director of a $6 billion privately-held manufacturing company, Independent Director of a $1 billion automotive OEM, and Independent Director of Axip, a Houston-based natural gas compression services company.

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