Family Memorials Inc.
TSX VENTURE : FAM

Family Memorials Inc.

June 02, 2016 15:53 ET

Family Memorials Inc. Announces New Interim CEO

THUNDER BAY, ONTARIO--(Marketwired - June 2, 2016) - Family Memorials Inc. (TSX VENTURE:FAM) ("Family Memorials" or the "Corporation") announces that it has retained Wayne Isaacs to serve as its Interim CEO for an initial term of six months.

Mr. Isaacs has been actively involved in executive level management of public companies for the past 27 years and has participated as principal in bringing numerous private companies to listing on many stock exchanges or similar facilities including the TSX Venture Exchange. In addition, Mr. Isaacs has raised significant amounts of financing for private and public companies and has been active in mergers & acquisitions, spinoffs of subsidiaries and major asset acquisitions and dispositions.

Mr. Isaacs will work alongside Scott Kellaway who will continue as the Corporation's Executive Chairman and President. The principal role of Mr. Isaacs is to assist the Corporation in restructuring its current debt, increase its visibility and profile in the capital markets, and to seek out, evaluate, assess and complete strategic acquisitions as the Corporation is now enhancing its growth by acquisition strategy. Mr. Isaacs states that, "I am looking forward to working with Scott Kellaway who has been very successful in guiding the day to day operations of the Corporation since its inception. As I focus on the capital markets development, Scott will continue to run the day to day operations and continue to cut costs while maximizing the efficiency of the operations. Together it is our intention to streamline the operations of the Corporation, increase revenue and profitability from strategic acquisitions and restructure the debt to make it more efficient for the operations. We will also now take a serious look at potential entry points into the US death care industry which is estimated to be approximately 10 times the size of the Canadian market."

Scott Kellaway, the Executive Chairman and President of the Corporation states that, "the addition of Mr. Isaacs will certainly provide well needed guidance in the capital markets as he brings many years experience on Bay Street. I am looking forward to working with Wayne and with our combined respective efforts we expect to generate increased shareholder value driven by a well capitalized Corporation with the ability to realize its significant growth potential in the death care industry".

About Family Memorials

The Corporation is a Canadian public Corporation operating in the death care industry retailing monuments and memorials through wholly owned subsidiaries and with agency and sales agreements with funeral homes. The Corporation currently trades on the TSX Venture Exchange under the symbol "FAM".

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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