SBD Capital Corp. Announces Management Changes

0
62

Toronto, Ontario–(Newsfile Corp. – October 13, 2022) – SBD Capital Corp. (CSE: SBD) (the “Company“) is pleased to announce the appointment of new executive management team for the Company, in addition to the resignation of Mr. Aleem Nathwani as the Chief Executive Officer of the Company. Mr. Nathwani will continue to be a director of the Company.

About the New Management Team and Directors

Brief biographies of the members of the newly appointed manage team of the Company are as follows:

Chris Irwin, Chief Executive Officer and Director – Mr. Irwin is currently a director of the Company and is a graduate of Bishop’s University (B.A., 1990), the University of New Brunswick (Bachelor of Laws, 1994) and Osgoode Hall Law School (Masters of Laws, 2009). He was called to the Bar of Ontario in 1996. Mr. Irwin represents several public companies, is an officer and/or director of several public companies, and serves or has served on the audit committee of several public companies.

Arvin Ramos, Chief Financial Officer – Mr. Arvin Ramos holds a degree in commerce and a member of the Chartered Professional Accountants of Ontario. Mr. Ramos has over 17 years of business experience, having supported a broad range of industries, including mining, technology and banking. Mr. Ramos serves as CFO of several junior mining companies.

Carly Burk, Secretary Ms. Burk is a Corporate and Securities Law Clerk with Irwin Lowy LLP since February 2018. Ms. Burk holds a Bachelor of Laws from the University of Southampton, and a Bachelor of Arts (Honours) from Carleton University. Ms. Burk serves as the Corporate Secretary of several public and private entities.

The Company confirms that there have been no material developments, other than those disclosed through news releases and Form 7 Monthly Progress Reports filed on the Company’s profile with the Canadian Securities Exchange, since the filing of its last Form 7 filing on September 9, 2021.

On August 5, 2022, the Company received a cease trade order (the “Cease Trade Order‘) from the Ontario Securities Commission (the “OSC“) for failure to file its audited consolidated financial statements for the year ended March 31, 2022, annual management’s discussion and analysis for the same period and management certifications of annual filings (collectively, the “Annual Filings“). The Annual Filings and interim financial statements, related management’s discussion and analysis and management certificates for the interim period ended June 30, 2022 have been filed with the applicable reporting jurisdictions. The Cease Trade Order was revoked by the OSC on September 27, 2022.

The Company acquires controlling interests in industrial companies in the manufacturing and distribution business. The Company’s cash-generating unit is alcohol and liquor sales, which generated revenue of $14,832 during the financial year ended March 31, 2022. The Company would like to thank its shareholders at this time for its patience. The Company is working diligently to reinstate trading and increasing shareholder value.

FOR FURTHER INFORMATION PLEASE CONTACT:

SBD Capital Corp.
Aleem Nathwani
Director
Tel: (416) 361-2515
Email: [email protected]

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140515