People Corporation
TSX VENTURE : PEO

People Corporation

February 23, 2015 08:30 ET

People Corporation Announces Organization Changes

TORONTO, ONTARIO--(Marketwired - Feb. 23, 2015) - People Corporation (the "Company") (TSX VENTURE:PEO) today announced organizational changes to facilitate the ongoing significant growth in its business. Keith McMahon joins us as Chief Financial Officer for People Corporation and will be assuming the finance leadership responsibilities from Brevan Canning. As previously announced, Brevan Canning had been promoted to Group Head - Benefits Solutions and will focus on our TPA strategy and platform.

"As we continue to execute on our strategy it has become increasingly important to expand our leadership team to facilitate the ongoing growth of the company. To that end, I am extremely pleased that Keith is joining our team," commented Laurie Goldberg, Chairman and CEO of People. "Keith brings significant experience to our company, specifically as it relates to strategy, financial leadership and acquisitions."

Keith has over 25 years of financial and business leadership experience in both public and private companies. He brings extensive expertise in numerous areas including rapid growth, financial management, mergers and acquisitions, capital raising, investor relations and financial reporting. Over the past 14 years, Keith has held a number of executive leadership roles with Arctic Glacier, formerly a TSX-listed business, including Chief Financial Officer, Executive VP & Chief Financial Officer, and most recently President & Chief Executive Officer. He led and grew the business from a regional operation, with sales of US$59 million and 400 employees, through a series of 54 strategic acquisitions and related capital raising activities to become North America's second largest manufacturer and distributor of packaged ice with almost US$250 million in sales, 86 locations and more than 2,000 employees.

Concurrent with this appointment, the Company has granted options to Mr. McMahon to acquire a total of 75,000 shares of the Company. These options have an average exercise price of $2.96 per share, have a term of five years, will vest over a period of three years and are otherwise subject to the terms of the Company's Amended and Restated Stock Option Plan.

About People Corporation

People Corporation is a national provider of group benefits, group retirement and human resource services. We have offices across Canada, each led by a team of experts and backed by the resources of a national company that is traded on the TSX-V. Our industry experts provide uniquely valuable insight while customizing our innovative suite of services to the specific needs of our clients. Whatever your sector, whatever your scale, putting our expertise and proven track record to work will make a difference to your people and your bottom line.

Further information is available at www.peoplecorporation.com.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws, such as information concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as "may", "will", "expect", "believe", or other words of similar effect may indicate forward-looking information including the completion of the transaction, the impact of that transaction on our earnings and cash flow, and the anticipated benefits of the transaction. This information is not a guarantee of future performance and is subject to numerous risks and uncertainties, including those described in our publicly filed documents (which are available on SEDAR at www.sedar.com). Those risks and uncertainties include: our ability to maintain profitability and manage growth; strong competition from other consultants and changes in the current legislation could result in significant competition from the banking industry; failure of information systems and technology; dependence on key clients; seasonality of revenues and the resulting possible impairment on working capital; reliance on key professionals; additional financing may be required and may not be available under terms favourable to us; there can be no assurance that any suitable future acquisition will be available to us or that, if available, the terms of the acquisition will be favourable to us; and a change in general economic conditions. Many of these risks and uncertainties can affect our actual results and could cause our actual results to differ materially from those expressed or implied in any forward-looking information made by us or on our behalf. Given these risks and uncertainties, investors should not place undue reliance on forward looking information as a prediction of actual results. All forward-looking information in this news release is qualified by these cautionary statements. This information is made as of the date of this news release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward looking information, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities.

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 press release.

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