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CrossOff Incorporated Announces Appointment of Colleen Moorehead as President and CEO
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Location: Blogs News |
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| Posted by: ITNovaScotia Admin |
Tuesday, April 25, 2006 |
SYDNEY, NS, April 25 /CNW/ - CrossOff Incorporated, a leader in the
provision of corporate training in Canada, announced today the appointment of
Colleen Moorehead as President and Chief Executive Officer effective
immediately. Most recently Ms. Moorehead was former President E(*)TRADE Canada
and Past Vice President and General Manager E(*)Trade Financial Global
Corporate Services.
"We are excited to announce Colleen's appointment as President and Chief
Executive Officer. Her depth of experience will be a tremendous asset to the
Company" said Robert Sampson, Chairman of the Board. "Colleen has established
an outstanding record of successful leadership and brings with her a unique
combination of personal attributes and professional skills that will be
fundamental in achieving key strategic goals on a go forward basis. I am
confident that we have chosen the right individual to lead our team forward in
successfully executing our growth strategy and I look forward to our future
successes."
"I am pleased and excited to assume the role of President and Chief
Executive Officer of a company with such tremendous potential. I am looking
forward to the challenge of growing this dynamic company and I am fortunate to
have such a strong and experienced management team in place to help make this
vision a reality." said Colleen Moorehead, President & CEO. "Companies that
compete in today's global economy understand that their most important asset
is human talent. We offer corporate Canada a complete range of products to
meet their training needs and enhance their human capital."
Along with Ms. Moorehead's appointment as President and CEO, she will
also complete a private placement with the Company for aggregate proceeds of
$500,000, subject to regulatory approval. As part of this transaction a total
of 2,500,000 units will be issued at $0.20 per unit. Each unit will consist of
one (1) common share of the Company and seven-tenths (0.70) share purchase
warrant. Each whole share purchase warrant has a two-year term and is
exercisable into one common share at an exercise price of $0.24 per share
purchase warrant. It is expected that this transaction will close within the
next 5 business days. At the time the private placement was being negotiated,
the market price was $0.18 per share.
About Colleen Moorehead
Colleen Moorehead is Past President, E(*)TRADE Canada and Past Vice
President and General Manager E(*)Trade Financial Global Corporate Services.
As the former President of E(*)TRADE Canada, Ms. Moorehead led the
organization from a start-up to becoming the largest independent on-line
investment firm in Canada serving both retail and sophisticated institutional
investors. Ms. Moorehead also served as Vice President and General Manager of
E(*)TRADE Financial Global Corporate Services. In this role, Ms. Moorehead led
her team in supporting more than 2200 corporations to navigate the challenges
of stock plan administration and compliance, and helping 1.4 million employees
understand and access their stock benefits. Prior to joining E(*)TRADE, Ms.
Moorehead was the Vice President and Managing Director of CIBC World Markets.
She has also held progressive management positions at industry-leading
brokerages including Wood Gundy, Merrill Lynch and Moss Lawson.
Ms. Moorehead is a co-founder of The Judy Project, an Enlightened
Leadership Forum for Executive Women at the Joseph Rotman School of
Management, University of Toronto, and currently serves as its Business
Director. She also serves, and has served, on many professional and community
boards including, The Task Force to Modernize Securities Legislation in
Canada, Canadian Scholarship Trust Foundation, Canadian e-Business Initiative,
Covenant House of Toronto, TSX Policy Committee, Investment Dealers
Association, and Stratford Summer Music.
Annual Meeting of Shareholders
The Company's Annual General and Special Meeting will be held on
Wednesday May 10, 2006 at 4 p.m. at the MaRS Centre, 101 College Street,
Toronto, Ontario. At the conclusion of the meeting, Colleen Moorehead,
President and Chief Executive Officer will unveil the Company's new brand and
future business strategy.
About CrossOff
CrossOff Incorporated is a Canadian based corporate training and
consulting company. CrossOff is traded on the Toronto Stock Exchange as OFF.
More information is available on the company's website at www.crossoff.com.
About Polar Bear/CDI
Polar Bear/CDI, a CrossOff company, is now Canada's largest corporate
training provider with offices in every province and major city coast to
coast. With more than 25 years experience in the design and delivery of
technology and management training, Polar Bear offers integrated learning
methodologies designed to meet the needs of Canadian businesses. More
information is available on the company's website at www.polarbear.com.
Forward Looking Statements
This press release may contain forward-looking statements regarding,
among other things, anticipated revenues, earnings and profitability for 2006
and beyond. Such statements involve known and unknown risks, uncertainties,
and other factors outside management's control that could cause actual results
to differ materially from those expressed in the forward-looking statements.
The statements are not a guarantee of future performance and readers are
cautioned not to place undue reliance on forward-looking statements. The
Company does not assume responsibility for the accuracy and completeness of
the forward-looking statements.
For further information: Anne Day, CrossOff Incorporated,
(902) 496-6421, aday@crossoff.com
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