Dirk Walterspacher Steps Down as co-CEO, Phil Cull Appointed to CEO Role
April 5, 2018, Vancouver, British Columbia:NatureBank Asset Management Inc. (“NatureBank” or the “Company”) (TSX-V: COO, Frankfurt: 9EA)is pleased to announce that it has appointed current co-CEO Phil Cull to the CEO position effective immediately. Dirk Walterspacher has resigned from his co-CEO position to concentrate on his role at Forest Finest Consulting (“FFC”), as he transitions to being a major shareholder (see Company announcement on 28thMarch 2018). Mr. Walterspacher shall continue as a member of the NatureBank Board of Directors through the transition.
“It has been my privilege to serve as the co-CEO of NatureBank Asset Management Inc. with Mr. Cull, from our European office in Germany”, stated Dirk Walterspacher. “While I have resigned from my position to focus on my newly expanded role at FFC, NatureBank remains an important shareholder of the company, and I look forward to continuing to collaborate with Mr. Cull and the NatureBank team in Vancouver, and the Company’s board of directors”.
“Dirk has been invaluable in offering leadership to the Company during his tenure as co-CEO, and for that we thank him,” stated CEO Phil Cull. “He leaves his co-CEO post with the Company being in a significantly better position than when he took on the role. As Dirk transitions, I look forward to our continued interaction at the Board level and as a business partner. As CEO, I remain delighted to have the opportunity to lead this company on the positive trajectory we established, growing our consulting and carbon market businesses internationally”.
NatureBank Asset Management Inc.
About NatureBank Asset Management Inc.
NatureBank specializes in advisory, technology and project investment services applied to sustainable commodities and ecological assets, with a primary focus on cocoa, timber and carbon. Weprovide our customers with a multidisciplinary approach to investing, managing risk, enhancing asset performance and securing commercial returns. While managing climate change risk, we improve livelihoods and sustainability in project regions. Through our advisory services team and our subsidiary companies, Offsetters and CO2OL, we help organizations understand, reduce and offset their climate impact. With offices in Vancouver, British Columbia; Portland, Oregon; Zurich, Switzerland and Bonn, Germany, our team has a global reach. Our team has worked with over 200 leading business organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. NatureBank is publicly listed company on the Toronto Venture Exchange (TSX-V:COO) and in Frankfurt:9EA. Please visit us at www.NatureBank.com.
For further information, please contact:
NatureBank Asset Management Inc.
Suite 1000 - 675 West Hastings Street,
Vancouver BC, V6B 1M8
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISKS:
Certain of the statements and information in this news release may constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements. When used in this news release the words “anticipate”, “believes”, “estimates”, “expects”, “intends”, “may”, “project”, “plan”, “should” , “forecast”, “outlook”, “budget”, “anticipated”, “future”, “potential” and similar words and expressions may identify forward-looking statements or information.
The statements in this news release reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, known and unknown, could cause actual results, performance or achievements to be materially different from results, performance or achievements anticipated by management. The Company’s ability to continue as a going concern is dependent upon its ability to maintain profitable operations and/or obtain the necessary financing to repay liabilities and obligations arising from normal business operations and to meet contractual liabilities related to the acquisition of Offsetters and CCC when they come due. The Company has been profitable in the past but has not achieved sustained, long term profitable operations and may require additional working capital and may seek additional financing through equity or debt and/or increased sales revenue and cash flows in order to remain a going concern. There is material uncertainty related to the Company’s ability to secure necessary financing or generate additional sales revenue and cash flows in the amounts required. The Company could be adversely affected by risks and uncertainties as disclosed in the Company’s most recent MD&A filing and financial statements as filed at www.sedar.com.
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