West Face Capital Vindicated by Decision in Lawsuit Launched by Catalyst Capital

TORONTO, Aug. 19, 2016 /CNW/ - West Face Capital Inc. today issued the following statement after the Ontario Superior Court of Justice "dismissed in its entirety" a lawsuit by The Catalyst Capital Group Inc. for alleged misuse of confidential information:

"West Face is grateful for the vindication provided by the court's decision," said Greg Boland, Chief Executive Officer.  "Justice Newbould reviewed the facts of the case carefully and thoroughly.  He concluded that the Catalyst witnesses – including in particular Newton Glassman – lacked reliability and credibility. By contrast, he found that the testimony from Brandon Moyse and the West Face witnesses was truthful and helpful. The reasons for the complete dismissal of the case make clear that the lawsuit launched by Catalyst was without merit.  We are confident that Catalyst's other lawsuits against West Face and various other parties face similar obstacles."

About West Face Capital Inc.

West Face Capital Inc. is one of Canada's leading alternative investment managers combining control-through-distressed, high-yield, negotiated finance, proactive equity, and private equity activities. West Face's capabilities are underpinned by a seasoned multi-disciplinary investment team, proprietary origination channels, deep sector expertise, and the ability to address investment targets in domestic and international markets.

SOURCE West Face Capital Inc.

For further information: please contact: Philip Panet, General Counsel & Secretary, West Face Capital Inc., 2 Bloor Street East, Suite 3000, Toronto, Ontario, M4W 1A8, Tel: (647) 724-8900

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www.westfacecapital.com

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