Appointments to CMHC Board of Directors

OTTAWA, ONTARIO--(Marketwired - Feb. 6, 2015) - The Honourable Jason Kenney, Minister of Employment and Social Development, Minister for Multiculturalism and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), today announced the appointments of Navjeet Singh (Bob) Dhillon and Leonard Peter Sharpe to the CMHC Board each for a term of four years.

"I am pleased to announce the appointment of these very experienced and talented individuals to the Board of CMHC. Their corporate and board experience and real estate expertise will be of tremendous benefit to the Board," said Minister Kenney.

Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for more than 65 years. Together with other housing stakeholders, we help ensure that the Canadian housing system remains one of the best in the world. We are committed to helping Canadians access a wide choice of quality, environmentally sustainable and affordable housing solutions that will continue to create vibrant and healthy communities and cities across the country.

Backgrounder attached

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BACKGROUNDER:

Mr. Bob Dhillon

Navjeet (Bob) Dhillon is the founder, President & CEO of Mainstreet Equity Corp., a Calgary-based publicly traded company listed on the Toronto Stock exchange that acquires underperforming assets (low rent rental-apartments), clusters them into apartment complexes, and upgrades them to mid-market rental units. Mr. Dhillon has more than two decades of experience in acquiring and repositioning all types of properties.

He is also founder, owner & President of Pan Pacific Mercantile Group, an international trading and export company focused on real estate development in emerging markets such as Belize and India, and founder and co-owner of National Payments, a point of sale payment solutions organization for small business merchants.

Bob holds an MBA from the Richard Ivey School of Business at the University of Western Ontario. He is the Honorary Consul General for Belize in Canada.

Mr. Leonard Peter Sharpe

Leonard Peter Sharpe is a high profile, well-networked senior executive with 25+ years of experience in guiding organizations through ebb and flow of economic conditions in both a domestic and global commercial environment. Has direct board and corporate experience in areas of strategic planning, operations, governance and financial management.

Peter is the former President and Chief Executive Officer of the Cadillac Fairview Corporation Ltd., one of North America's largest investors, owners and managers of commercial real estate. Cadillac Fairview currently holds more than $20 billion in assets. Peter also has a wealth of senior Board experience, having served as global chairman of the International Council of Shopping Centers, the world's largest real estate association; as Director of Postmedia Network Canada Corp. and Postmedia Network Inc.; and as a Trustee of Allied Properties REIT.