September 29, 2016 17:45 ET
TORONTO, ONTARIO--(Marketwired - Sept. 29, 2016) - Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) ("Grenville" or the "Company") today announced changes to its board of directors with the appointments of Mr. Vernon Lobo and Mr. Dan Phaure as directors of the Company and the resignation of Mr. Paul Sweeney from the board. All changes are effective today.
"We want to sincerely thank Mr. Sweeney for his dedicated service to the Company during the crucial founding stage of the business," said Catherine McLeod Seltzer, Chair of Grenville. "We are delighted to welcome Vernon and Dan to the Board. With their combined experience in financial services, management of growth-focused portfolios and capital raising for these businesses, Grenville is positioned to grow as a leading SME royalty investor."
Vernon is a Managing Director of Mosaic Capital Partners, a Toronto-based private investment firm. Previously, Vernon was founder and Managing Director of Mosaic Venture Partners, an early stage venture capital fund. Through 21 years in the investment industry, Vernon helped build several companies from start-up to acquisition or public listing, seven of which achieved valuations in excess of $100 million. Earlier in his career, Vernon was a consultant with McKinsey & Company and a software engineer at Nortel Networks. Vernon sits on the boards of several public and private companies. He holds a BASc in Engineering from the University of Waterloo and an MBA from Harvard where he was a Baker Scholar.
Dan brings close to 20 years of experience working with small to mid-size companies. He spent over 10 years in investment banking providing equity and debt financings for Canadian public and private companies last as a Managing Director with Stifel Nicolaus Canada. Outside of the capital markets, he has worked with a number of small to mid-size companies in a strategic advisory capacity and has prior experience as an accountant. Mr. Phaure is based in Ontario, is a graduate of Wilfrid Laurier University, Canada and holds both the CA and CFA designations.
Based in Toronto, Grenville is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.
Neither 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.
Grenville Strategic Royalty CorporationSteven ParryChief Executive Officer(416) 777-0383
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