TORONTO, March 27, 2012 /CNW/ - 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.
For further information:
Laurie Munro, President & CEO
NexGen Financial Corporation