NEW YORK, March 3, 2017 /PRNewswire/ -- MFC Bancorp Ltd.
("MFC" or the "Company") (NYSE: MFCB) announced today that
Michael Smith, its Managing
Director, has been appointed as the Company's interim President and
Chief Executive Officer. Mr. Smith replaced Gerardo Cortina, who has resigned as President
and Chief Executive Officer of the Company in order to pursue
outside opportunities. Mr. Cortina will continue with the Company
on a part-time basis as Vice President in order to assist with the
transition.
About MFC
MFC is a merchant bank that provides financial services and
facilitates structured trade for corporations and institutions. We
specialize in markets that are not adequately addressed by
traditional sources of supply and finance, with an emphasis on
providing solutions for small and medium sized enterprises. We
operate in multiple geographies and industries.
As a supplement to our operating business, we commit proprietary
capital to assets and projects where intrinsic values are not
properly reflected. These investments can take many forms, and our
activities are generally not passive. The structure of each of
these opportunities is tailored to each individual transaction.
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SOURCE MFC Bancorp Ltd.