Mosaic Capital Corporation Announces Closing of $21.3 Million Private Placement

Mosaic Capital Corporation Announces Closing of $21.3 Million Private Placement

Mosaic Capital Corporation Announces Closing of $21.3 Million Private Placement

Calgary, Alberta (FSCwire) – Mosaic Capital Corporation (“Mosaic”) (TSX-V Symbols: M, M.PR.A and M.WT) is pleased to confirm the closing today of its previously announced initial private placement (“Offering”) of units of Mosaic(“Units”) with each Unit consisting of one private yield security of Mosaic (a “Private Yield Security”) and one private yield security purchase warrant (a “Warrant”), as further detailed in Mosaic’s news release dated February 18,2015 (collectively, the Units, Private Yield Securities and the Warrants are referred to herein as the “Securities”).

Under the Offering 21,320 Units have been issued for total gross proceeds of $21.3 million and Mosaic will pay a fee equal to approximately 3% of the gross proceeds to Westcourt Capital Corporation. Mosaic anticipates an additional private placement of Units to close at or around the end of February, 2015.

The net proceeds from the Offering are anticipated to be used for Mosaic’s future acquisitions and for general corporate purposes.

The Securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for the sale of, or the solicitation of an offer to buy, the Securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT MOSAIC CAPITAL CORPORATION

Mosaic is an investment company based in western Canada that owns a portfolio of established businesses with competitive advantages that have a history of generating cash flow from their operations. Mosaic’s objective is to create long term value for our shareholders and business partners and to have that reflected in our share price. We believe that this is achieved by growing free cash flow per share and retained earnings. We do this by acquiring businesses that we understand at attractive prices and we manage our risk through
extensive due diligence, creative transaction structuring and working closely with our businesses after acquisition.

Ryan Blain

BBA, CPA – Partner

 

Ryan is a founding partner and board member of the WB Financial Group. Ryan manages the firm’s Financial Advisory and Corporate Services business areas in the Turks & Caicos Islands, and has over fifteen years of professional accounting and management experience with a focus on financial services, hospitality and development.

Prior to joining WB Financial, Ryan was a Manager in the Audit and Risk Advisory practice of KPMG in the Turks & Caicos, and was a member of the Assurance and Tax practices of KPMG in London, Ontario. Ryan has also held a senior financial position with the development of a 5 star hotel project in the Turks & Caicos.

Ryan has a BBA from Wilfred Laurier University, and is a Chartered Professional Accountant and member of the Institute of Chartered Professional Accountants of Ontario.

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Corey Williams

BBA, CPA – Partner

 

Corey Williams is a founding partner and board member of WB Financial Group. Corey has twenty years of professional accounting, financial services, compliance, and management experience.

From 1995 to 2007 Corey worked at KPMG in Canada and the Caribbean and in 2002 was made Partner in the KPMG Turks and Caicos (TCI) office. Corey provided audit and risk advisory services to clients in the financial services and hospitality sectors and was also the Partner in charge of Risk Management, Ethics, and Independence for KPMG TCI.

In 2007, Corey joined the Bordier & Cie Group as CFO/COO for Caribbean operations. In 2011, he relocated to Asia to assist the Bordier Family in opening a merchant banking operation in Singapore where he acted as CFO/COO. Corey is currently assisting the Bordier Group in transitioning to a new core banking platform, in addition to building out an alternative asset management and insurance platform for the WB Financial Group.

Corey is a graduate of the University of Western Ontario and holds both a CA and CPA designation.

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Jen Blain

CPA – Partner

 

Jen is a founding member of the WB Financial Group, and is the groups CFO. Jen has over fifteen years of professional accounting and management experience, and leads the firm’s hospitality and retail client base.

Prior to joining WB Financial, Jen was a member of the Audit and Risk Advisory practice of KPMG in the Turks & Caicos, and of the Assurance and Tax practices of KPMG in London, Ontario. Jen has also held a senior financial position with a large wholesale and retail operation in the Turks & Caicos.

Jen is a graduate of the University of Western Ontario, and is a Chartered Professional Accountant and member of the Institute of Chartered Professional Accountants of Ontario.

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Zack Kembar

Partner

 

Zack is a partner of the WB Financial Group and a board member.
Zack has over 20 years of experience in financial services, including 10 years at Goldman Sachs in their Tokyo and New York offices. While at Goldman Zack focused on multi strategy sales, where team revenues grew from $5million USD in 2001 to over $80million in 2006. Subsequent to Goldman, Zack worked at Deutsche Bank New York and BNP Paribas Japan managing their Equity Derivative Sales business in Tokyo. Over the last 6 years Zack has focused his efforts in the alternative investment space, helping to manage a Singapore based hedge fund, and more recently a private equity fund with operations in Asia and Latin America.

At WB Zack focuses on alternative assets and captive insurance. He works closely with our insurance partners to structure innovative solutions in both insurance and reinsurance along with the appropriate investment programs to maximize capital preservation and enhance investment returns.

Zack is a graduate of Western University in Canada.

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Paul Muspratt

CA, TEP

 

Paul is a member of the WB Financial Group in Cayman. Paul jointly manages the firm’s Financial Advisory business in the Cayman Islands, and has over twenty years of professional accounting and management experience with a focus on financial services and hospitality.

Before joining WB Financial, Paul had a variety of experiences from large, multinational fund administrators, to establishing and managing bank and trust businesses. Paul’s responsibilities have similarly extended from financial accounting, directing operations, through to compliance and risk management.

Before Cayman, Paul worked for Ernst & Young in their UK financial services practice and before that with Arthur Andersen; he trained as a Chartered Accountant with PwC in Scotland.

Paul has a BA (hons) from Exeter University, is a Chartered Accountant, and member of the Institute of Chartered Accountants Scotland, the Society of Trust and Estate Practitioners and the Cayman Islands Institute of Professional Accountants.

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Steven Sokohl

CPA

 

Steven is a member of the WB Financial Group in Cayman. Steven jointly manages the firm’s Financial Advisory business in the Cayman Islands, and has over twenty five years of professional accounting and management experience with a focus on financial services.

Before joining WB Financial, Steven had a variety of experiences from large multi-national banks to privately held family office structures. Steven’s main responsibilities have focused on the financial and management accounting and regulatory aspects of these businesses.

Before Cayman, Steven worked for Arthur Andersen and Ernst & Young in their US audit and tax practices with an emphasis on financial service clients. Subsequently, Steven worked primarily within the financial services sector in major money centre jurisdictions (New York, Paris, Hong Kong and the Cayman Islands).

Steven has a BS (hons) from American University, is a Certified Public Accountant, and a member of the Cayman Islands Institute of Professional Accountants.

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Joy M.E. Lim

LLB

 

Joy is responsible for Business Development in Asia-Pacific for WB Financial Group.

Joy has 28 years’ experience in the legal and wealth management sectors.  She has worked in London, New York, Hong Kong, Shanghai and Singapore.

She started her legal career in London and upon returning to Singapore, she worked in the financial services sector for JP Morgan, Morgan Stanley, Citigroup, and UBS AG.

Joy is based in Singapore and specialises in helping clients and their advisors find optimal solutions for both personal legacy and strategic corporate planning needs.

Joy is a graduate of the London School of Economics (LLM) and a member of Gray’s Inn, London.  Joy is also NASD Series 7 & 8 qualified, and a member of STEP (Society of Trust & Estate Practitioners).

Joy is a Singapore Citizen.

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Virginia Czarnocki

BA, LLB, Dip L.P.

 

Virginia is a member of the WB Financial Group in Cayman. Virginia was an attorney for over twenty years practicing law at a senior level focusing on the areas of project finance, funds and general corporate law; almost 10 years having been spent practicing Cayman Islands’ law.

Whilst practicing as an attorney, Virginia wrote the Cayman Islands chapter of Neate’s legal textbook on bank confidentiality.

Virginia worked for Maples and Calder and Walkers before leaving law to set up her own performance coaching company where she focuses on creating thriving businesses and helping professionals manage stress and prevent burn out. Prior to Cayman, she was a partner in a large UK law firm operating between their Glasgow, Edinburgh and London offices.

Virginia now practices as a performance coach with WB Financial & Consulting (Cayman) Services Limited.

Virginia is a graduate of the University of Strathclyde and the University of Glasgow.

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