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TORONTO, Jan. 8, 2021 /CNW/ - Cliffside Capital Ltd.
("Cliffside") (TSXV: CEP) today announced the appointment of
Richard Valade, a senior executive
in the financial services industry in Canada, to its Board of Directors. "We are
pleased to welcome Rick to the Board of Directors," said
Michael Stein, Chairman of the
Board. "Most recently being Regional President Americas -
Canada and Latin America for Wells Fargo Bank, he brings
significant depth and experience and will be a terrific addition to
our Board."
Mr. Valade is a senior executive with a proven track record of
earnings and portfolio growth while improving corporate governance,
risk controls and building a strong compliance culture at all
levels of the organization. He has extensive experience in
implementing best practices and successful business model changes
and is a strategic thinker with a reputation for solving complex
issues and building strong partnerships with lines of business,
support functions and regulators. After a 29-year career with Wells
Fargo he decided to retire at the end of 2020. Rick led the
regional operations for Canada and
Latin America since 2017 and has
been instrumental in building Wells Fargo's footprint across
Canada. As country head in 2011,
he led the establishment of the Canada Branch of Wells Fargo Bank, N.A. in
2012. When Rick joined Wells Fargo in 1991, he served as president
for Wells Fargo Financial Canada, the former consumer finance
arm.
Mr. Valade is a board member of X-Factor Foundation, chairman of
the Association of Canadian Financial Corporations and is an
advisory council member for First Canadian Title. Rick is a past
cabinet member for the United Way of Peel, a Habitat for Humanity
volunteer and a long time participant in the Georgetown minor hockey association.
About Cliffside
Cliffside is focused on investing in
strategic partnerships with parties who have specialized expertise
and a proven track record in originating and servicing loans and
similar types of financial assets. Cliffside's strategy is to
generate revenue as an investor, affording its shareholders an
opportunity to invest in the growing alternative lending sector
with the potential for attractive yields and minimal operational
risk while earning a reliable total return. For more information,
see Cliffside's filings on SEDAR at www.sedar.com.
CAUTIONARY STATEMENT REGARDING FORWARD–LOOKING
INFORMATION: This news release includes certain
"forward–looking statements" under applicable Canadian securities
legislation. Forward–looking statements include, but are not
limited to, statements with respect to the business and operations
of Cliffside. Forward–looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward–looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; the results of operations; potential for
conflicts of interests; as well as volatility of Cliffside's common
share price and volume. There can be no assurance that such
statements will prove to be accurate or complete, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward–looking statements. Cliffside disclaims any
intention or obligation to update or revise any forward–looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Neither the 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.
SOURCE Cliffside Capital Ltd.