Business
MCAN Mortgage Corporation Announces Receipt of OSFI Approval of Arrangement, Resignation of CFO and Appointment of New CFO
TSX: MKP TORONTO , June 21, 2013 /CNW/ - MCAN Mortgage Corporation ("MCAN", the "Com...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n\n\nTSX: MKP\n\n\nTORONTO, June 21, 2013 /CNW/ - MCAN Mortgage Corporation (\"MCAN\", the\n \"Company\" or \"we\") announced that further to the previously announced\n acquisition of all of the issued and outstanding common shares of \n Xceed Mortgage Corporation (\"Xceed\") by way of a statutory plan of\n arrangement (the \"Arrangement\"), the Company has received approval of\n the Arrangement from the Office of the Superintendent of Financial\n Institutions Canada.  If all other conditions precedent to the\n Arrangement are satisfied or waived, the Company expects that the\n Arrangement will be completed on or before July 4, 2013.\n\n\nMCAN also announced today that Tammy Oldenburg has provided notice to\n the Company of her resignation as Vice President and Chief Financial\n Officer.  Ms. Oldenburg has been with the Company since 2002, and has\n acted in the capacity of Vice President and Chief Financial Officer\n since 2006.  Ms. Oldenburg will continue in her current role for a\n transitional period to August 30, 2013.  The Company would like to\n thank Ms. Oldenburg for her years of dedication and many contributions\n to the Company and wishes her continued success in her future\n endeavours.\n\n\nMCAN also announced today the appointment of Jeffrey Bouganim as MCAN's\n new Vice President effective upon the successful completion of the\n Arrangement and as Chief Financial Officer effective August 31, 2013.\n\n\nMr. Bouganim is currently the CFO of Xceed.  Prior to joining Xceed in\n 2010, Mr. Bouganim served as CFO for a Schedule I Chartered Bank in\n Canada and prior to that, Mr. Bouganim was the CFO of the brokerage and\n capital markets operations of another Schedule I Chartered Bank. Mr.\n Bouganim is a Chartered Accountant and also holds a Bachelor of\n Business Administration from York University.\n\n\n\"We would like to extend a warm welcome to Mr. Bouganim in this\n important role, and we look forward to working with him towards the\n successful integration of the Xceed and MCAN businesses\" said William\n Jandrisits.  \"Mr. Bouganim  brings significant experience and expertise\n to MCAN with many years in mortgage lending and the financial services\n industry.\"\n\n\nForward-Looking Information \n\n\nThis press release may contain forward-looking statements, including\n st...