Cub Energy Inc. announced the sudden passing of its Executive Chairman, President, Chief Executive Officer and founder, Mikhail Afendikov, on February 1, 2021. On behalf of the entire Cub team, The Board of the company has appointed Patrick McGrath as Interim Chief Executive Officer to oversee daily operations and Eugene Chaban as Interim Chief Financial Officer. Mr. McGrath was previously the Chief Financial Officer of the company. John Booth, a current director of the company, has been appointed Chairman of the Board. The appointments are subject to regulatory approval.