CNQ Expands its Board of Directors
Toronto ? January 19, 2006 ? CNQ, Canada?s New Stock Exchange, today announced the election of an expanded Board of Directors at its recent Annual General Meeting. Gordon Cheesbrough, Tom Lunan, John MacNaughton and Steven Small have joined the existing Board of Ian Bandeen, William Braithwaite, Robert Cook, Adam Conyers, Roy Hill and Jeff MacIntosh. ?We are delighted with the enhanced level of expertise that each of these individuals will bring to the Board? remarked Ian Bandeen, Chairman. ?2006 will be a very exciting time for CNQ as we build out our product offerings and provide an alternative market for Canadian equity securities that will be markedly better, faster and cheaper than the Canadian capital markets have previously experienced.?
Gordon Cheesbrough has since 2003 been a founding partner of Blair Franklin Capital Partners. From 1998 to 2002 he was the President and Chief Executive Officer of Altamira Investment Services Inc. Prior to that, Mr Cheesbrough capped a very successful 24 year career at Scotia Capital Markets and its predecessor organizations with his appointment from 1993 to 1998 as Chairman and Chief Executive Officer. He currently serves on the Board of Canadian Tire Corporation, is Chairman of Canadian Tire Bank and is Chairman of North York General Hospital.
Thomas Lunan is the Vice President of B.E.S.T. Investment Counsel Limited as well as the Chief Financial Officer of The B.E.S.T. Discoveries Fund Inc. and B.E.S.T. Total Return Fund Inc. Prior to joining B.E.S.T. Investment Counsel Limited, Mr. Lunan was a Manager, Company Listings at the TSX and prior to that Mr. Lunan was at the Ontario Securities Commission in the Corporate Finance Branch. Mr. Lunan is a past director of the Toronto Society of Financial Analysts and chair of the Candidate Education Program of this society. A Chartered Accountant, Mr. Lunan is also a director of Canadian World Fund Limited and a director of several private companies.
John A. MacNaughton, C.M., served from 1999 to 2005 as the founding President and Chief Executive Officer of the Canada Pension Plan Investment Board, a Crown Corporation created by an Act of Parliament to manage the assets of the Canada Pension Plan. Prior to joining the CPP Investment Board Mr. MacNaughton spent 31 years in the investment business with Nesbitt Burns Inc. and predecessor companies, as a practicing investment banker and then as a senior executive of the firms. He was President of Burns Fry and then Nesbitt Burns from 1989 until 1999. Mr. MacNaughton is a Member of The Order of Canada. He is Chairman of the Canadian Institute of International Affairs, a Trustee of the University Health Network, a Governor of CCAF-FCVI and a North American Member of The Trilateral Commission. He was appointed in the spring of 2005 by the Management Board of the Cabinet of Ontario to the Crawford Panel which was mandated to develop a proposal for the creation of a Single Canadian Securities Regulator.
He was elected to the Board of Directors of Nortel Networks Corporation in June 2005. He has served previously as Chairman of the Princess Margaret Hospital Foundation; Chairman of the Investment Dealers Association of Canada; President, The Empire Club of Canada; National Secretary, Progressive Conservative Association of Canada; Vice President and Director, The Canadian Stage Company; and Governor, Ryerson Polytechnical Institute (now University).
Dr. Steven Small is the Chief Executive Officer of Capital Partners Corporation, a boutique merchant banking firm in Toronto. He has over 20 years of experience in the venture capital business focused on seed and early stage investments and growth management. Dr. Small has been a founding investor and active shareholder and director of a wide range of successful private and public companies.
CNQ commenced operations in July 2003 and became recognized by the Ontario Securities Commission as a stock exchange in May 2004, the first new stock exchange in Canada in over 70 years. CNQ’s innovative market addresses the needs of emerging companies and their investors by providing a transparent, electronic trading system with full protection of client priority. There are over 50 companies listed, 24 investment dealers with direct access to the market and additional dealers participating indirectly. Most recently, CNQ announced its intention to launch a new alternative market to trade securities listed on the TSX. Information about the alternative market may be found at www.alternativemarket.ca.
For further information about CNQ visit www.cnq.ca or contact:
Ian Bandeen, Chairman 416-572-2000 Ext. 2265 [email protected]
