Calgary, Alberta – December 22, 2017 – Founders Advantage Capital Corp. (TSX-V: FCF) (the “Corporation”) is pleased to announce that Melanie Litoski will join the Corporation’s executive team as Chief Financial Officer effective March 1, 2018. Ms. Litoski will replace Ron Gratton, a current board member who has served as Interim CFO since July, 2017. In addition, the Corporation is also pleased to announce that Chris Kayat has been appointed to the Corporation’s Board of Directors.
Stephen Reid, President and Chief Executive Officer of the Corporation commented: “We are pleased we committed the time and effort to an extensive CFO search as it has resulted in the Corporation adding a very talented individual. Melanie brings a wealth of management experience and financial knowledge and we are delighted that she has agreed to join our team in March. We are also greatly appreciative of Ron Gratton’s contributions to the Corporation over the last six months in leading the executive search and serving as Interim CFO.”
As for the addition of Mr. Kayat to the Board of Directors, Mr. Reid noted: “We are truly fortunate to have a Board of Directors comprised of intelligent and experienced individuals. Chris is a serial entrepreneur with a strong network of business owners across the country, a co-founder of DLC, a significant shareholder of the Corporation and is sure to be a leader on our Board. We appreciate Chris committing to serve on our Board and look forward to his many contributions.”
Please see below for biographies on Melanie Litoski and Chris Kayat.
Melanie Litoski – Ms. Litoski is a Chartered Professional Accountant with over 15 years’ experience in a variety of industries including transportation, utilities, financial services and retail. Ms. Litoski’s prior roles have included Vice President, Controller for Dollar Financial Group (2014 – present) which operates a network of more than 800 alternative financial services locations across North America; Vice President, Finance and Controller for ENMAX Corporation (2008 – 2014), a Calgary-based utility company; Chief Financial Officer of First Canada, a Canadian transportation company (2005 – 2008); Controller of RST Industries (2001-2005), a division of JD Irving.
Ms. Litoski holds a Bachelor of Commerce Degree from the University of Alberta and became a qualified Chartered Accountant in 1997. She served as Audit Manager with KPMG LLP before transitioning into private industry in 2001. In addition to holding executive roles, Ms. Litoski has several years’ experience teaching accounting, tax and management courses at the University of New Brunswick and the Chartered Professional Accountants of Alberta. She has also had reoccurring speaking engagements with the Strategy Institute and Federated Press on accounting and leadership topics.
Ms. Litoski is also an active volunteer holding positions with Financial Executives International, Canadian Women’s Foundation, Airdrie Minor Hockey Association, Wear-2-Start Victoria, Victoria Sexual Assault Centre and Airdrie POWER and has mentored young women through the Institute of Chartered Accountants of Alberta’s Mentorship Program and the University of Calgary School Business Mentorship Program.
Chris Kayat – Mr. Kayat is the co-founder and Executive VP of Dominion Lending Centres (DLC). Prior to co-founding DLC, he was the largest Royal LePage owner in Western Canada by market share and overall agent count before selling such franchises to Royal LePage Corporate in 2014 to focus on growing DLC. Before acquiring his real estate companies in 1997, Mr. Kayat was one of the most productive realtors in British Columbia. While owning his real estate business, he owned and operated a productive mortgage brokerage which became DLC’s first franchise. In addition to an impressive professional career, Mr. Kayat has undertaken many community and social initiatives, such as co-founding “Bikes for Kids” and serving as the President of the North Coquitlam United Soccer Club.
About Founders Advantage Capital Corp.
The Corporation is listed on the TSX Venture Exchange as an Investment Issuer (Tier 1) and employs a long-term investment approach. The Corporation has developed an investment approach to create long-term value for its shareholders and partner entrepreneurs (investees) by pursuing controlling interest acquisitions of cash flow positive, premium middle-market privately-held entities. The Corporation seeks to win mandates by appealing to the segment of the market which is not aligned with traditional private equity control, royalty monetizations or related structures. The Corporation’s innovative platform offers incentives (contractually) for growth in favour of our partner entrepreneurs. This unique platform is designed to appeal to entrepreneurs who believe in the growth of their businesses and who want the added ability to continue to manage the business with a long-term partner.
The Corporation’s common shares are listed on the TSX Venture Exchange under the symbol “FCF”.
For further information please refer to the Corporation’s website at www.advantagecapital.ca.
Contact information for the Corporation is as follows:
Chief Executive Officer
SVP, Capital Markets
Chief Operating Officer
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