TORONTO, March 27, 2012 /PRNewswire/ - NexGen Financial
Corporation ("NexGen" or the "Corporation") (NFX:TSX.V) is pleased
to announce the appointment of Mr. Mark
Kinney and Ms. Margaret
Hunter to the board of directors of the Corporation
effective March 27, 2012.
Mr. Kinney is a founding partner, the chief investment officer
and the managing director of Newport Private Wealth Inc. ("Private
Wealth"), a private investment company, with more than 20 years of
experience in the investment industry. Mr. Kinney is the
chair of Private Wealth's investment committee, which is
responsible for managing the firm's investment strategy and
execution. Prior to starting Private Wealth in 2001, Mark was a
vice president at RBC Private Trust. From 1992 to 1999, he
was a Principal with Merchant Private Trust Company and Connor
Clark Private Trust, which was acquired by the Royal Bank of
Canada in 1999. Mr. Kinney
is active in a number of community and charitable organizations,
including being a director of the Yellow Bus Foundation.
Mr. Kinney will replace Mr. John
Garrow, a former executive of Newport who resigned from the NexGen board.
Newport Partners Private Growth LP1 continues to hold approximately
15.9% of the outstanding common shares of NexGen.
Ms. Hunter has been a structural designer with Stephenson
Engineering Ltd. since 2011 and prior thereto a structural engineer
with Weidlinger Associates Inc. of New
York since 2007. Ms. Hunter has been appointed in
substitution for Elizabeth Hunter
who was unable to serve as a director due to a work related
conflict which arose after her nomination. Ms. Hunter is the
daughter of James Hunter, the former
Chief Executive Officer of NexGen and the current holder of
approximately 25% of the outstanding common shares of NexGen.
Each of Mr. Kinney and Ms. Hunter will serve as directors until
the annual meeting of shareholders on May
22, 2012. The appointment of Ms. Hunter is subject to the
receipt of all necessary regulatory approvals.
"We would like to thank Mr. Garrow for his
services to the NexGen Board since its inception in 2006 and we
welcome Mr. Kinney and Ms. Hunter to the Board. We look
forward to their contribution," said Laurie
Munro, President and Chief Executive Officer.
About NexGen Financial
NexGen Financial Corporation is a mutual fund company and was
founded to develop value added investment solutions for financial
advisors and their clients. The firm is focused on the creation of
innovative investment products and services that meet the needs of
Canadians seeking more tax efficient investment opportunities and
greater control over the tax treatment of their investments.
Managed by strong investment professionals, NexGen's unique
Registered and Tax-Managed Fund offerings are well positioned as
attractive investment opportunities for Canadians looking to
alleviate the tax costs associated with traditional investment
solutions.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward Looking Statements
This release may contain "forward-looking statements" which reflect
the current expectations of the Company. These statements reflect
management's current beliefs with respect to future events and are
based on information currently available to management.
Forward-looking statements involve significant known and unknown
risks, uncertainties and assumptions. Many factors could cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements that
may be expressed or implied by such forward-looking statements
including, without limitation, those listed under the heading "Risk
Factors" in the Company's Management Discussion and Analysis, which
is available the Company's website and on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking statements prove
incorrect, actual results, performance or achievements could vary
materially from those expressed or implied by the forward-looking
statements contained in this release. Although the forward-looking
statements contained in this release are based upon what the
Company believes to be reasonable assumptions, the Company cannot
assure investors that actual results, performance or achievements
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this release
and the Company does not assume any obligation to update or revise
them to reflect new events or circumstances.
SOURCE NexGen Financial Corporation