CALGARY, Alberta, July 03, 2017 (GLOBE NEWSWIRE) -- Founders Advantage Capital Corp. (TSX-V:FCF) (the “Corporation”) today announced that it has appointed Ron Gratton as its Interim Chief Financial Officer. Mr. Gratton, a current Board member and member of the Corporation’s audit committee, is a CPA and has over 35 years of experience. As Interim Chief Financial Officer, Mr. Gratton’s primary responsibility will be to identify and recruit a permanent Chief Financial Officer to lead the Corporation’s finance team. Given the nature of the Corporation’s operations, the Corporation is targeting CPA’s with considerable experience in the acquisition and rollup of private companies into a public company.
Mr. Gratton replaces Darren Prins who served as Chief Financial Officer prior hereto. The Board would like to thank Mr. Prins for his dedicated service over the last year in building strong financial reporting, budgeting and controls frameworks for the Corporation. Mr. Prins is returning to his hometown of Vancouver to pursue a financial executive role in the mining industry.
Mr. Gratton is a director of the McCaig family office, which administers the McCaig family's investments, including in the Trimac group of companies. From 2000 until 2010, Mr. Gratton was a senior tax partner with PricewaterhouseCoopers LLP. Prior thereto, he held senior roles with Coopers & Lybrand as well as various public and private companies. Mr. Gratton is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Calgary. Mr. Gratton will also be supported by the Corporation’s finance team led by Michelle Chambers, Sr. VP Finance for the Corporation.
In connection with Mr. Gratton agreeing to serve as Interim Chief Financial Officer, the Board of Directors has granted Mr. Gratton 75,000 incentive stock options (the "Options") pursuant to the Corporation’s stock option plan. The Options are exercisable at $3.00 per share, are exercisable for a term of five years and will vest immediately. The grant is subject to regulatory approval.
About Founders Advantage Capital Corp.
The Corporation is listed on the TSX Venture Exchange as an Investment Issuer (Tier 1) and employs a long-term investment approach. The Corporation has developed an investment approach to create long-term value for its shareholders and partner entrepreneurs (investees) by pursuing controlling interest acquisitions of cash flow positive, premium middle-market privately-held entities. The Corporation seeks to win mandates by appealing to the segment of the market which is not aligned with traditional private equity control, royalty monetizations or related structures. The Corporation's innovative platform offers incentives (contractually) for growth in favour of our partner entrepreneurs. This unique platform is designed to appeal to entrepreneurs who believe in the growth of their businesses and who want the added ability to continue to manage the business with a long-term partner.
The Corporation's common shares are listed on the TSX Venture Exchange under the symbol “FCF”.
For further information please refer to the Corporation's website at www.advantagecapital.ca.
Contact information for the Corporation is as follows:
| Stephen Reid Chief Executive Officer 403-540-5411 sreid@advantagecapital.ca | James Bell Chief Operating Officer 403-455-2218 jbell@advantagecapital.ca |
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