May 25, 2017 – Halifax, Canada – Torrent Capital Ltd. (TSXV: TORR) (the “Company”) is pleased to report that the Board of Directors has elected Philip Armstrong as Board Chairman.
Mr. Armstrong has spent over 40 years in the financial service industry starting his career with Lloyds Bank in the UK. In 1987 Philip was an original partner and CEO of Altamira Investment Services Inc. Altamira pioneered the direct sale mutual fund business in Canada and grew to manage approximately $15 billion in assets. Altamira was sold to National Bank Financial. After leaving Altamira, Philip was a founder and CEO of Jovian Capital Corporation, a public company whose mandate was to acquire, create, and grow companies in the asset and wealth management sectors. Jovian was sold to Industrial Alliance in October 2013. He is a director of Marret Resources Inc. and also a director of a number of private companies.
Philip has served as Chairman of the Investment Funds Institute of Canada and The Mutual Fund Dealer’s Association. In addition he served on the board of the Ireland Fund of Canada. Mr. Armstrong holds a Bachelor of Arts (Law) Hons. from the School of Law at Manchester Metropolitan University.
Mr. Armstrong replaces Mr. Kevin Bullock, who will continue to serve on the Company’s Board of Directors. Wade Dawe, CEO of Torrent Capital, wishes to thank Mr. Bullock for his years of service as Chair, particularly in guiding the Company through it recent change of business from a resource issuer to an investment issuer.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Torrent Capital Ltd.
Chief Executive Officer