SOURCE: NatureBank Asset Management Inc.

NatureBank Asset Management Inc.

December 01, 2015 19:28 ET

NatureBank Announces Appointment of New CFO and Director of Finance

VANCOUVER, BC--(Marketwired - December 01, 2015) - NatureBank Asset Management Inc. (the "Company") (TSX VENTURE: COO)(FRANKFURT: 9EA) announced today that it has accepted the resignation of its Chief Financial Officer Mr. Jeffrey Calvert, effective December 1, 2015. Mr. Calvert has transitioned to the position of Chief Executive Officer of wheat straw paper company, Prairie Paper Inc.

NatureBank is pleased to appoint Mr. Phillip Cull to the position of CFO for NatureBank, and Ms. Rosita Morandin to the Director of Finance role. Mr. Cull has most recently acted in the Vice President role at NatureBank, while Ms. Morandin has served as the Finance Manager.

Mr. Cull brings an extensive background in the financial sector to NatureBank, having worked at American Express Bank, Societe Generale, HSBC and Goldman Sachs over 10 years in the city of London. Directly prior to joining NatureBank, Mr. Cull was an Executive Director for Goldman Sachs International in their equities division. Mr. Cull also sat on the International Securities Lending Association Corporate Governance committee. He has a Masters in Climate Change and Risk Management from the University of Exeter and his Bachelor of Science is from the University of Hertfordshire. Over his 6 years at NatureBank he has been focusing on project and portfolio management.

Ms. Morandin brings 20 years of accounting and finance experience to the Director of Finance position. Having started her career in the tax department at the Loewen Group, Ms. Morandin moved to PricewaterhouseCoopers before applying her skillset to a suite of early and mid-stage venture companies. Ms. Morandin joined NatureBank's predecessor company, ERA Ecosystems in 2009. Since joining the Company, she has specialized in systems improvement and financial statement reporting. Ms. Morandin holds a bachelor of Business Administration degree with a focus on accounting and finance, and is in the process of completing her Chartered Professional Accountant designation.

"We would like to thank Jeff for his many years of dedicated service at NatureBank, and we wish him great success as he endeavours to grow Prairie Paper's Step Forward Paper into a leading sustainable paper brand," commented James Tansey, CEO of NatureBank. "I'd also like to congratulate both Mr. Cull and Ms. Morandin on their respective promotions within the Company. Their deep experience and knowledge of the Company has made this a seamless transition."

James Tansey, Ph.D., President and CEO

NatureBank Asset Management Inc.

About NatureBank Asset Management Inc.

NatureBank is an internationally diversified carbon management and agroforestry solutions company. With offices in Vancouver, British Columbia and Portland Oregon, Bonn Germany and satellite offices in Panama and Vietnam, its team of industry leaders specialize in the origination, development and commercialization of high-quality agroforestry and carbon offset projects, in addition to offering a comprehensive suite of sustainability consultancy services. Through NatureBank advisory services group Offsetters and German based CO2OL, the company helps organizations understand, reduce and offset their climate impact. NatureBank has worked with over 200 leading business organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE-Entega, and Shell Canada Limited. NatureBank is publicly listed company on the Toronto Venture Exchange (TSX VENTURE: COO) and in (FRANKFURT: 9EA). For more information, please visit us at


Certain of the statements and information in this news release may constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements. When used in this news release the words "anticipate", "believes", "estimates", "expects", "intends", "may", "project", "plan", "should" , "forecast", "outlook", "budget", "anticipated", "future", "potential" and similar words and expressions may identify forward-looking statements or information.

The statements in this news release reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, known and unknown, could cause actual results, performance or achievements to be materially different from results, performance or achievements anticipated by management. The Company's ability to continue as a going concern is dependent upon its ability to maintain profitable operations and/or obtain the necessary financing to repay liabilities and obligations arising from normal business operations and to meet contractual liabilities related to the acquisition of Offsetters and CCC when they come due. The Company has been profitable in the past but has not achieved sustained, long term profitable operations and may require additional working capital and may seek additional financing through equity or debt and/or increased sales revenue and cash flows in order to remain a going concern. There is material uncertainty related to the Company's ability to secure necessary financing or generate additional sales revenue and cash flows in the amounts required. The Company could be adversely affected by risks and uncertainties as disclosed in the Company's most recent MD&A filing and financial statements as filed at

The Company does not intend, and does not assume any obligation to update any forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information other than as required by applicable securities or other laws.


Contact Information

  • For further information, please contact:

    David Rokoss
    NatureBank Asset Management Inc.
    Suite 1000 - 675 West Hastings Street
    Vancouver BC, V6B 1M8
    Telephone: 778-945-0951