Pacific Orent Capital Inc.
Pacific Orent Capital Inc.
Message: Management Changes and Share Transfers
Pacific Orient Announces Change in Management and Share Transfers
TORONTO, ONTARIO--(Marketwire - Jan. 20, 2012) - Pacific Orient Capital Inc. ("Pacific Orient") (TSX VENTURE:AAQ.P) announces its intention to change its management team and for the current management to transfer their 1,000,000 escrowed shares to a new management. The management change and share transfer is subject to the approval of the TSX Venture Exchange (the "Exchange") and written consent from shareholders holding more than 50% of the shares of Pacific Orient.
The departing management team (including the number of shares being transferred and percentage ownership) of Pacific Orient is: Francis Mak (President, CEO & Director) 400,000 (8%), Daniel Donn (Director) 50,000 (1%), Bruce Reilly (CFO & Director) 50,000 (1%), Mark Borden (Corporate Secretary) 50,000 (1%) and Dr. William Gannon (Director) 450,000 (9%).
The foregoing individuals will resign and will transfer their shares at $0.10 per share to the following new management (including their shareholdings and percentage ownership) team:
Martin Bernholtz (CEO, CFO & Director) 185,000 (3.7%)
Mr. Bernholtz, BBA, CA became a Chartered Accountant in 1983 and has held the position of Chief Financial Officer of Kerbel Group Inc. an integrated real estate developer and property owner since 1988. He has served as a director and officer of several public, private, not for profit and condominium corporations over the last 25 years. Mr. Bernholtz previously spent six years with Laventhol & Horwath in the Litigation Support and Business Valuation areas. Mr. Bernholtz graduated with a Bachelor of Business Administration degree from York University in 1981.
Myra Bongard (Director) 480,000 (9.6%)
Ms. Bongard obtained her Real Estate, Sales Representative Diploma from Seneca College in 1985. Ms. Bongard has been a Sales Representative at Right At Home since October 2009. She was a Sales Representative at Keller Williams from December 2006 to September 2009 and at Century21 Heritage from January 1985 to November 2005. Ms. Bongard served on the board of directors of Berkshire Griffin, which completed a reverse take-over with China Wind Power International Corp. in August 2009, and of Ribbon Capital, which completed a reverse take-over with SelectCore Ltd. in December 2006. Ms. Bongard currently serves on the board of directors of two unlisted reporting issuers (Compel Capital Inc. and Aspen Manufacturing Industries Inc.).
Aaron Rotenberg (Secretary & Director) 150,000 (3%)
Mr. Rotenberg obtained his Bachelor of Arts from McGill University in 2001 and his Master of Business Administration from the University of Miami in 2003. Mr. Rotenberg has been the President of Ibis Capital Corporation since February 2006. He was the Director of Equity Investments of Firm Capital from June 2005 to February 2006, and an Account Manager of TD Bank from February 2005 to June 2005. From 2003 to 2005 he was an associate at Sterling Centrecorp.
David Bernholtz (Director) 185,000 (3.7%)
Mr. Bernholtz obtained his Creative Advertising Diploma from Seneca College in 2006 and his General Arts and Science Diploma from Seneca Collage in 2008. Mr. Bernholtz was the Project Manager of Links Corporation from February 2009 to September 2011.
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