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TORONTO, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Gravitas Financial Inc. (CSE: GFI) (“Gravitas” or the “Company”), today is pleased to announce that Central China Securities (“CCS”, 1375.HKEX) via its Hong Kong subsidiary Central China International, has acquired 9.9% interest in the holding company of Gravitas Securities Inc. (GSI), with a view to expanding its business operations to North America. CCS is a large, fast-growing financial services firm in China, with reported assets over C$8 Billion and 2017 revenue in excess of C$400 million. CCS is dual listed on the Shanghai and Hong Kong exchanges with a business focus on securities related financial services such as investment banking, asset management and equity and bond investments.
Gravitas’ Chinese – Canadian Financial Services Strategy
Gravitas, through its subsidiaries and affiliates, has been building a significant presence in the Chinese – Canadian financial community. The Company believes that this demographic represents a significant, fast–growing and underserviced market, and therefore it has been developing high quality financial products suitable for this sector. The partnership with CCS will enhance Gravitas’ ability to do this and will provide Gravitas with access to, initially, the Canadian domestic client base of CCS and, in the future, the potential to develop cross border financial opportunities.
In addition, CCS has relationships with private and public companies in China and Hong Kong, which GSI intends to mine for investment and mergers and acquisitions opportunities for its Canadian corporate clients that focus on the technology, agricultural, mining and manufacturing sectors.
David Carbonaro, the director of Gravitas focused on this strategy stated, “Gravitas is very pleased that Central China International has chosen Gravitas to be part of their expansion into the North American Equity Markets. Gravitas and its affiliated companies currently have a well-established platform that services Chinese Canadian high net worth investors. This strategic partnership will inevitably strengthen this already established platform.”
Gravitas also announces the appointment of Carmelo Marrelli as interim Chief Financial Officer (CFO) of the company. Carmelo is the principal of Marrelli Support Services Inc., a firm that delivers accounting and regulatory compliance services to listed companies on various exchanges, where he has worked since January 2000. Mr. Marrelli is a Chartered Professional Accountant (CPA, CA, CGA) and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He has a Bachelor of Commerce degree from the University of Toronto. Carmelo will replace Peter Liabotis who has resigned from his position as CFO of the Company to pursue other interests. He will be available in a consulting capacity to ensure a smooth transition. The Company wishes Mr. Liabotis the best in his future endeavours.
ABOUT GRAVITAS SECURITIES INC.
Gravitas Securities Inc. is a full-service investment dealer, headquartered in Toronto. GSI is focused on Investment Banking and Private Client Wealth Management. GSI is a subsidiary of Gravitas Ilium Corp. (GIC). GIC empowers non-traditional advisors, in a compliant, fully licensed fintech enabled manner, to provide quality financial products and solutions. Through Gravitas Financial, GSI has access to one of Canada’s largest non-bank mutual fund dealers (Portfolio Strategies Corporation), a merchant bank, an investment fund management company, and an exempt market dealer.
ABOUT GRAVITAS FINANCIAL INC.
Gravitas Financial Inc. is a platform company that creates businesses in key traditional and emerging sectors with strong industry partners. Our industry focus includes financial services, fintech, and Sino-Canadian mining. We leverage our unique platform to develop a continuous pipeline of new ventures with significant blue-sky potential. Our platform is complimented by strong investment research and digital investment media groups.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Brent Somerville, Investor Relations, Gravitas Financial Inc.
Email: brent@gravitasfinancial.com
Tel: 647-846-4105
Vikas Ranjan, President, Gravitas Financial Inc.
Tel: 647-252-1674