CALGARY, May 30, 2018 /CNW/ - Mosaic Capital
Corporation ("Mosaic"), ("Company") (TSX-V Symbols:
M and M.DB) is pleased to announce that Mark Gardhouse and George Flemming have been appointed as directors
of Mosaic. Furthermore, Mosaic is pleased to announce that
Mark Gardhouse has assumed the role
of President in addition to his current CEO role at the
Company.
Mosaic's board of directors now consists of John Mackay, Harold
Kunik, William Smith,
Gary Bentham, Mark Gardhouse and George Flemming.
Mark Gardhouse joined Mosaic in
July 2016 and prior to that, for five
years, had been the President and CEO of a $500 million revenue conglomerate headquartered
in Edmonton, Alberta. From 2005 to
2010, Mark held the position of President and COO of C.A. Bancorp
Inc., a Toronto Stock Exchange listed alternative asset management
firm, which he successfully grew from start-up to $560 million in assets under management. Prior
thereto, Mark led the equity buyout group at RoyNat Capital Inc.
with a focus on transactions in the Canadian middle market.
George Flemming was President and
CEO of Plains Environmental Inc., a private oilfield and industrial
services firm, where he remains as a director and
shareholder. Since May 2016
George has worked as an independent investor and
consultant. From 2000 until 2009, George was an investment
banker with Canaccord Genuity Group Inc. where he focused on
capital raising, advisory engagements and corporate transactions in
the oilfield services and diversified industries
sectors. Prior thereto, George was a corporate and securities
lawyer for an Alberta-based
regional law firm. In connection with George Flemming's appointment to the board,
Mosaic issued Mr. Flemming 2,083 restricted securities units
("RSUs") and 9,393 options to purchase Mosaic common shares
("Options"). The Options have an exercise price of
$6.00 and, subject to certain
conditions, will expire 5 years from the date of grant. The
RSUs and Options granted will vest yearly in three equal tranches
starting in April of 2019.
"We are privileged to welcome Mark and George to our Board as
new, valued members that will offer strategic, operational and
capital markets experience and depth as Mosaic enters its eighth
year as a public company," commented John
Mackay, Executive Chairman of Mosaic. "We would like to
thank Harold Kunik for his extensive
efforts on Mosaic's management team since inception, most recently
as President, and we look forward to his continued contributions at
the board level. We would also like to thank Roger Giovanetto who, after many years of
service, did not stand for re-election as a director at Mosaic's
2018 Annual General Meeting."
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of
established businesses which span a diverse range of industries and
geographies. Mosaic's strategy is to create long-term value for its
shareholders through accretive acquisitions, long-term portfolio
ownership, sustained cash flows and organic portfolio growth.
Mosaic achieves its objectives by maintaining financial discipline,
acquiring businesses at attractive valuations, performing extensive
acquisition due diligence, utilizing optimal transaction
structuring and working closely with subsidiary businesses after
acquisition.
Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Mosaic Capital Corporation