February 28, 2007 17:59 ET

Charter Realty Holdings Ltd. (TSX-V:CRH.P) Announces Appointments and Grants Options

TORONTO, ONTARIO--(CCNMatthews - Feb. 28, 2007) - Charter Realty Holdings Ltd. (TSX VENTURE:CRH.P) Chairman John F. Driscoll is pleased to announce the appointments of Ari Silverberg as President and Chief Operating Officer, Floriana Cipollone as Chief Financial Officer and Ryan Caughey as Corporate Secretary of the Company. These appointments are effective February 28, 2007.

Mr. Silverberg has significant experience in negotiating, structuring and managing real estate transactions. Previously, Mr. Silverberg worked as a senior director at Chicago-based General Growth Properties Inc., responsible for the evaluation, acquisition and development of retail and mixed-use real estate opportunities. Mr. Silverberg earned his MBA in 2001 from the Wharton School at the University of Pennsylvania. He also holds a LL.B. from the University of British Columbia and a BA from the University of Western Ontario.

Ms. Cipollone is a Chartered Accountant with more than 15 years of diversified business experience. Previously, Ms. Cipollone was Vice-President, Corporate Planning & Strategy of O&Y Properties Corporation, and Vice-President, Finance of O&Y Real Estate Investment Trust. She earned her Bachelor of Commerce degree from the University of Toronto in 1990 and has been a member of the Institute of Chartered Accountants of Ontario since 1992.

Mr. Caughey received his call to the bar in 2003. He then worked as an associate lawyer with Osler, Hoskin & Harcourt LLP in Toronto where he practiced corporate law with an emphasis in mergers and acquisitions, and corporate finance. He is also currently serving as Corporate Secretary of Sentry Select Capital Corp.

Option grants

Charter Realty Holdings Ltd. has granted an aggregate of 150,000 incentive stock options (the "Options") to certain of its officers. The Options shall vest in equal proportions on each of the following three dates: February 28, 2007, February 28, 2008 and February 28, 2009. Upon vesting, each Option shall entitle the holder thereof to purchase one common share of Charter Realty Holdings Inc. at a price of $0.20 until February 28, 2012.

Charter Realty Holdings Ltd.

Charter Realty Holdings Inc. is focused on acquiring a portfolio of retail and mixed-use real estate comprised of stable cash flow and value-add properties from both primary and secondary markets throughout Canada, with the principal goal of generating a reliable and growing yield for its investors. The Company owns three commercial real estate properties located in Exeter, Seaforth, and Zurich, Ontario.

The Exchange Tower
130 King Street West
Suite 2805, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-2398

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Charter Realty Holdings Ltd.
    Ari Silverberg
    President and Chief Operating Officer
    (416) 861-8729, Ext. 520
    (416) 364-2398 (FAX)