Qualifying transaction for Coconut Grove Textiles

31 Jan '11

5 min read

Hilton Price, Acting CFO and Director
Mr. Price is a Chartered Accountant with over 35 years of experience covering a variety of industries and businesses. He has been involved in most elements of the Group's strategic planning and has been responsible for financial oversight since the Group's inception.

Cortney Scheiner, Vice President/Sales & Operations -Intimate Apparel Division and Director
Ms. Scheiner has a degree in Human Resources from the University of Toronto. Her work and consulting experience with some of the USA's largest corporations has provided her with the tools to negotiate sales agreements with the Group's major customers and to oversee ongoing relationships with these customers. Ms. Scheiner was instrumental in negotiating a recent licensing and distribution agreement with Maidenform Brand which is expected to result in a substantial increase in sales for the intimate apparel division.

Three outside directors will join the board of directors of the Resulting Issuer upon closing of the Qualifying Transaction. These new directors will be:

Jason Garay, Director
Mr. Garay is a communicable diseases epidemiologist and the current head of Public Health Surveillance for the Region of York, a growing community of over one million residents. He is a graduate of the University of Toronto's Faculty of Medicine in the field of Community Health and Epidemiology. Jason has served on the Board of Directors for the Lakeridge Health Corporation Research Institute, the Canadian Society for Epidemiology and Biostatistics, the Ontario Council for Community Health Accreditation and is the past-President and current Vice-President of the Association of Public Health Epidemiologists in Ontario.

Dr. Jeff Coyne, Chairman of the Board of Directors
Dr. Coyne is CEO of Provect Technologies, Inc, a U.S. based, enterprise level, time and attendance software company. He is a principal of CPR Turnaround LLC, a company that manages and advises companies in financial difficulty and he is a senior lecturing fellow at Duke University School of Law. Dr. Coyne has previously served as a director of Ezenet, (previously EZE on TSE) and ValueNet, (previously VNE on ASE). His academic qualifications include BA, Economics, U.C. Berkeley; JD, Duke University School of Law. He is also a California licensed attorney.

Mark Greenspan, Director
Mark Greenspan was CFO of The Medipattern Corporation, a TSX-V listed company, from September 2002 until February 2010. Prior to that, he spent 18 years at Scotiabank in various capacities which included COO of Scotiabank's e-commerce subsidiary, CAO of Scotia Capital and Head of Integrated Support Services. Prior to joining Scotiabank, he spent 8 years at KPMG where he specialized in business valuations, mergers and acquisitions. Mr. Greenspan is a CA and a CBV.

It is anticipated that Mr. Jason Garay, Dr. Jeff Coyne and Mr. Mark Greenspan will form the audit committee of the Resulting Issuer.

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Leezamax Capital Corp

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