Exelerate Capital Corp. Announces Appointment of Michael Boyd to the Board of Directors

Canada NewsWire

VANCOUVER, BC, Nov. 11, 2020 /CNW/ – EXELERATE CAPITAL CORP. (the “Company”) (TSXV: XCAP) is pleased to announce the appointment of Mr. Michael Boyd to the board of directors of the Company.

Mr. Boyd brings over 43 years of professional experience that includes leadership roles in the financial institution and capital markets industries, as well as extensive board governance experience with public and private companies, including roles as Chair of the Audit Committee. Mr. Boyd was a Managing Director at HSBC Capital (Canada) Inc.’s Merchant Banking Group, where he was involved with preovate equity investments and bridge financing transactions. He was also the Managing Partner at Argosy Bridge Management Inc., that managed the Argosy Bridge Fund LPI and LPII, that specialized in enterprise value lending.

Mark Kohler, Chairman of the Board, commented, “I am pleased to have Michael join our board at this time. He brings exceptional expertise to our process of assessing and evaluating potential acquisition targets for our Company, as we near conclusion on various discussions with third parties. He also brings an extensive background in investment banking, value lending, deal structuring, and a responsible approach to optimizing operations and stakeholder outreach. On behalf of the board of directors, it is my pleasure to welcome Michael.

Mr. Kohler added, “The Company is seeing significant opportunities now in acquiring healthcare technology businesses and data privacy and cyber risk platforms that support a secure ‘Information Supply Chain™’ in the vast market called, Digital Health. As well, we see value in the acquisition of the associated technologies that enable impactful and effective transitions of patients and their data from acute care hospitals back to the home care setting.”

The Company has granted Mr. Boyd 100,000 stock options pursuant to the Company’s stock options plan, exercisable at $0.10 per share, vesting equally over the next 9 months, and with a term of five years.

About the Company
The Company is a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “CPC Policy”). Except as specifically contemplated in the CPC Policy, until the completion of its “Qualifying Transaction” (as defined in the CPC Policy), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections.

SOURCE Exelerate Capital Corp.