Canaccord Genuity Group Inc. that the board of directors of the Company has appointed Amy Freedman and Rod Phillips as independent directors to fill two of the vacancies created on the Board. Amy Freedman is a Partner at a Canadian boutique investment firm, and brings extensive experience in both capital markets and shareholder advisory matters, having previously spent a number of years advising boards and shareholders on strategic matters. Rod Phillips brings a wealth of knowledge in both the public and private sector, having previously served as the Ontario Minister of Finance, and the chairman of one of Canada's news media companies. Additional biographical information regarding Amy Freedman and Rod Phillips is set out below. With these changes, the Board is now comprised of seven (7) directors, of which five (5) are independent. The Corporate Governance and Compensation Committee will continue to review the director complement against the Company's skills matrix to guide the appointment of any additional directors. The independent members of the Board also passed a resolution to approve the appointment of Amy Freedman and Rod Phillips as new members of the Special Committee of independent directors that are evaluating and considering the take-over bid from certain members of the Company's management team (the "Management Group") to acquire all the common shares of the Company not already owned by the Management Group at a price of $11.25 per share. Following such appointments, the Special Committee is now comprised of Michael Auerbach (Chair), Terrence Lyons, Amy Freedman and Rod Phillips. As previously announced on March 13, the Special Committee intends on continuing the mandate in progress to review and evaluate the Management Group's bid and has engaged with securities regulators to allow for a delay in the dissemination of a directors circular. The Company has received confirmation that the Management Group's bid is unaffected by these developments.
Amy Freedman is a Partner and Head of Engagement Fund Investment at Ewing Morris & Co Investment Partners Ltd. Ms. Freedman was previously CEO of Kingsdale Advisors, a leading shareholder services and advisory firm specializing in strategic and defensive advisory, governance advisory, proxy and voting analytics and investor communications.