Toronto, March 20, 2020 – GMP Capital Inc. (GMP) (TSX: GMP) today announced that Ben Scholten will assume the role of Interim Chief Financial Officer. Mr. Scholten will replace Deb Starkman, the Company’s current CFO and Corporate Secretary, following her previously announced departure effective March 31, 2020. Mr. Scholten joined GMP in 2006 and has a wide breadth of experience in all aspects of the Company’s financial operations. Additionally, Krista Coburn, General Counsel of GMP, has also been appointed as the Corporate Secretary of the Company.
“On behalf of the board of directors and her team, we thank Deb for her many contributions and leadership over the years,” said Kish Kapoor, Interim President and Chief Executive Officer. “And thank Ben and Krista for their strong support in helping us transition effectively during this pandemic.”
This press release contains “forward-looking information” as defined under applicable Canadian securities laws. This information includes, but is not limited to statements concerning our objectives, our strategies to achieve those objectives as well as statements with respect to management’s beliefs, plans, estimates, projections, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information is not a guarantee of future performance and is subject to numerous risks and uncertainties, including those described in this press release. GMP’s primary business activities are both competitive and subject to various risks. These risks include market, credit, liquidity, operational, legal and regulatory risks and other risk factors including, without limitation: variation in the market value of securities, volume of client trading, level of assets under administration, access to new financings, dependence on key personnel, and sustainability of fees. Other factors, such as general economic conditions, including interest rate and exchange rate fluctuations, may also have an effect on GMP’s results of operations.
Many of these risks and uncertainties can affect GMP’s actual results and could cause its actual results to differ materially from those expressed or implied in any forward-looking information disclosed by management or on its behalf. When relying on forward looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect GMP’s operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).
For a description of additional risks that could cause our actual results to materially differ from our current expectations, see the “Risk Management” and “Risk Factors” sections of GMP’s 2019 Annual MD&A and the “Risk Factors” section in GMP’s Annual Information Form (“AIF”). Material assumptions and factors underlying the forward-looking information in this press release include, but are not limited to, those set out in “Business
Environment – Outlook” in GMP’s 2019 Annual MD&A. GMP’s 2019 Annual MD&A and most recent AIF are filed under the Corporation’s profile on SEDAR at www.sedar.com.
These risks and uncertainties are not the only ones facing the GMP Group. Additional risks and uncertainties not currently known to us or that we currently consider immaterial, may also impair the operations of the GMP Group. Although forward looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. Certain statements included in this press release may be considered a “financial outlook” for purposes of applicable Canadian securities laws and, as such, the financial outlook may not be appropriate for purposes other than this press release.
The forward-looking information contained in this press release is made as of the date of this press release, and should not be relied upon as representing GMP’s views as of any date subsequent to the date of this press release.
Except as required by applicable law, management and the Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
ABOUT GMP CAPITAL INC.
GMP currently operates through two business segments: Operations Clearing and Wealth Management; and a Corporate segment. Operations Clearing provides carrying broker services to Richardson GMP and to Stifel’s Canadian capital markets business, including trade execution, clearing, settlement, custody, and certain other middle- and back-office services. Wealth Management consists of GMP’s non-controlling ownership interest in Richardson GMP. Richardson GMP, one of Canada’s largest independent wealth management firm, is focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. GMP is listed on the Toronto Stock Exchange under the symbol “GMP”. For further information, please visit our corporate website at gmpcapital.com.
For further information please contact:
GMP Capital Inc.
Rocco Colella, Managing Director, Investor Relations
145 King Street West, Suite 200, Toronto, Ontario M5H 1J8
Tel: (416) 941-0894; Fax: (416) 943-6175
[email protected] or [email protected]