Gstaad Capital Corp. Announces Results of AGM
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2013) - Gstaad Capital Corp. (TSXV: GTD.P) ("Gstaad" or the "Company") announces the results of the Annual General Meeting of Shareholders (the "Meeting") held in Vancouver, B.C. on September 16, 2013. The shareholders approved all motions put forth at the Meeting including the re-appointment of MacKay LLP, Chartered Accountants, as the Company's independent auditors, the confirmation of the Company's Stock Option Plan and the transfer of its listing to the NEX board of the TSX Venture Exchange (the "TSXV") in the event that a qualifying transaction is not completed by March 7, 2014. The NEX board is a distinct trading board of the TSXV designed for listed issuers which were previously listed on the Toronto Stock Exchange or the TSXV that have been unable to meet the ongoing financial listing standards of those markets. NEX provides a trading forum for publicly listed shell companies while they seek and undertake transactions which will result in the company carrying on an active business.
Jonathan Borrill, Paul Larkin, David Thomas, Philip Pincus and Roberts Falls had been nominated by management to stand for election as directors of the Company. However, as Mr. Borrill had recently decided not to stand for re-election, William Wright was nominated by management from the floor to stand for election. The shareholders, therefore, elected Paul Larkin, David Thomas, Philip Pincus, Robert Falls and William Wright to the Company's Board of Directors.
Mr. Wright has been actively involved in the investment banking industry in Canada in excess of thirty years. Until recently, he was the Chief Operating Officer of Union Securities and chaired their Executive Committee. Union was a full service independent brokerage firm with fourteen offices across Canada and an office in London England.
Previously, Mr. Wright held the positions of Chief Operating Officer, Chief Compliance Officer and Director at Bolder Investment Partners, also a full service independent brokerage firm. Prior to Bolder he enjoyed two decades in senior positions including Senior Vice President Operations and Credit with Yorkton Securities Ltd. Mr. Wright has been fully registered with IIROC in several capacities including Investment Advisor, CCO, Branch Manager and Director during his career. Prior to his investment banking career Mr. Wright worked for a Canadian Chartered bank.
Mr. Wright's strong investment banking qualifications and knowledge, in the areas of operations, compliance, human resources and credit, will be a welcome addition to the Board of Gstaad.
The Board extends its gratitude to Mr. Borrill for his efforts, contributions and guidance over the past two years and wishes him well in his future endeavours.
Gstaad is a Capital Pool Company as defined by the TSXV.
ON BEHALF OF THE BOARD
Tel: (604) 687-7767
THE TSX VENTURE EXCHANGE INC. HAS IN NO WAY PASSED UPON THE MERITS OF THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS NEWS RELEASE.