JINHUA CAPITAL CORPORATION TO ACQUIRE LIONS BAY HOLDINGS INC. IN PROPOSED QUALIFYING TRANSACTION
At the Closing, the Board of Directors of Jinhua will be comprised of four directors, one of which will be a nominee of Jinhua and three of which will be the nominees of Lions Bay. The initial slate of directors to be appointed by Lions Bay will be Nathan Nowak, Kiki Smith and Randy Johnston. The initial director to be nominated by Jinhua will be Spencer Smyl. The parties are currently interviewing candidates for the position of corporate secretary and will identify such person in a subsequent news release.
Following the completion of the proposed Transaction, and assuming the Concurrent Financing is closed at the minimum amount of $1,500,000, the Resulting Issuer will have approximately 58,200,000 Resulting Issuer Common Shares issued and outstanding on a non-diluted basis, of which former shareholders of Jinhua will hold approximately 7.3% and the former shareholders of Lions Bay will hold approximately 72% each on a non-diluted basis
Nathan Nowak, proposed CEO, Director - Mr. Nowak spent eight years as a consultant in creating one of the largest wealth management practices in Canada for Investors Group Inc. managing a client book of over $100,000,000. He gained extensive experience and expertise in agricultural financial planning from his role as an investment advisor at Investors Group Inc., by creating succession financial plans for many farmers.
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