Rand Capital Strengthens Board of Directors
January 30 2015 - 8:30AM
Rand Capital Corporation (Nasdaq:RAND) ("Rand"), a business
development company that makes venture capital investments in
companies with emerging product, service or technology concepts,
announced that it has added Robert ("Rob") S. McLeese and E.
Wycliffe ("Cliff") Orr, Jr. to its Board of Directors. With these
additions, the Board now consists of eight directors.
Mr. Reginald B. Newman II, Chairman of the Board of Rand,
commented, "We are excited to welcome these financing veterans to
our Board. Rob and Cliff bring a wealth of investment experience in
both public and private companies and, as significant shareholders
of Rand, they each hold a vested interest in our continued growth.
Over the last 10 years, we have successfully expanded our portfolio
of companies, grown net asset value and generated exceptional
returns on investment. We look forward to our new directors'
contributions to the execution of our growth strategy."
Mr. McLeese is President of Colmac Holdings and President and
founder of Access Capital, private investment firms. Colmac is
a Rand investor. With a strong focus on the energy industry,
Mr. McLeese is also Chairman and Chief Executive Officer of ACI
Energy, Inc., an owner-operator of solid fuelled power
plants. He has held leadership positions in various energy
trade associations and funds. Mr. McLeese is a Chartered
Accountant.
Mr. Orr is a managing director with JAM Capital Partners
Management, a private investment partnership and investor in
Rand. Previously, he was with Privet Fund Management and
Timbervest. A CFA® charterholder, Mr. Orr earned an MBA from
the Kellogg School of Management and a JD and BBA from the
University of Georgia.
ABOUT RAND CAPITAL Rand Capital is a publicly
held Business Development Company (BDC), and its wholly-owned
subsidiary is licensed by the U.S. Small Business Administration
(SBA) as a Small Business Investment Company (SBIC). Rand
focuses its investments in early or expansion stage companies with
strong leadership that are bringing to market new or unique
products, technologies or services that have a high potential for
growth. Additional information can be found at the Company's
website where it regularly posts
information: www.randcapital.com.
Safe Harbor Statement This news release
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements concerning future
revenue and earnings, involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of the Corporation to differ materially from the results expressed
or implied by such statements, including general economic and
business conditions, conditions affecting the valuation of the
Corporation's portfolio, the timing and opportunity for investments
or divestitures as well as conditions affecting the portfolio
companies' markets, competitor responses, and market acceptance of
their products and services and other factors disclosed in the
Corporation's periodic reports filed with the Securities and
Exchange Commission. Consequently, such forward looking
statements should be regarded as the Corporation's current plans,
estimates and beliefs. The Corporation assumes no obligation
to update the forward-looking information contained in this
release.
CONTACT: Company:
Allen F. ("Pete") Grum
President
Phone: 716.853.0802
Email: pgrum@randcapital.com
Investors:
Deborah K. Pawlowski
Kei Advisors LLC
Phone: 716.843.3908
Email: dpawlowski@keiadvisors.com
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