Crosswinds Holdings Inc. Announces Appointment of Interim Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - May 28, 2015) - Crosswinds Holdings Inc. ("Crosswinds" or the "Company") (TSX:CWI) today announced that it has appointed Susan McCormick as Interim Chief Financial Officer effective June 1, 2015. Ms. McCormick's appointment is being made following the receipt of Paul Van Damme's resignation as Chief Financial Officer of the Company to pursue other opportunities.

Ms. McCormick brings to the Company more than 30 years of finance experience including positions held at CIBC, Credit Suisse, Yahoo! Canada and Clean Power Income Fund. Susan has held a number of Director of Finance and Controller roles for a variety of public companies. She holds Commerce and Master of Economics degrees from the University of Toronto. She is a Canadian Chartered Accountant and a Certified Public Accountant (Illinois).

"On behalf of the Company and the Board of Directors we thank Paul for his contributions over the years and we wish him continued success in his future endeavors," said Colin King, Chief Executive Officer. "At the same time we are pleased to have Susan joining us. Susan brings a tremendous amount of experience to our team."

The Company is also announcing a change in its Toronto office address effective June 1, 2015. The Company's new address will be 401 Bay Street, Suite 2828, Toronto, Ontario, M5H 2Y5.

Crosswinds Holdings Inc.

Crosswinds is a publicly traded private equity firm and asset manager targeting strategic and opportunistic investments in the financial services sector with a particular focus on the insurance industry.

Caution Regarding Forward-Looking Information

This release includes certain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Reference should be made to the risk factors in the Company's 2014 Annual Information Form and in our other filings with Canadian securities regulators. Additional important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, interest rates, tax related matters, loss of personnel, reliance on key personnel, ability of the Company to generate positive future returns for investors, ability of the Company to execute its strategies from time to time and the receipt of any regulatory approvals or consents required from time to time.