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CALGARY, Aug. 12, 2019 /CNW/ - Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX: AD) is pleased to announce today that Mr. Peter Grosskopf is joining Alaris as a director of the board effective immediately and Mr. Gary Patterson, a director of Alaris since the company went public in 2008, will be resigning following the release of Alaris' Q3 2019 financial results in November 2019.
"I would like to personally thank Gary for his over 11 years of service to Alaris. Gary has been with us since the day we went public in 2008 and has been a tremendous contributor to our board. On behalf of the rest of our board, management and all of our shareholders, we wish Gary the best", said Steve King, CEO and President, Alaris.
Mr. King continues, "We are thrilled to be adding a director with Peter's experience in the investment industry. Peter has spearheaded the growth of Sprott into new verticals and raised a significant amount of capital over the last ten years. His industry knowledge and leadership will be great assets to our company".
Peter Grosskopf has more than 30 years of experience in the financial services industry and is currently Chief Executive Officer, Sprott Inc. and Managing Director, Sprott Resource Lending. At Sprott, Peter is responsible for strategy and managing the firm's investment capital and lending business. His career includes a long tenure in investment banking, where he managed many strategic and underwriting transactions for companies in a variety of sectors. Prior to joining Sprott, Mr. Grosskopf was President of Cormark Securities Inc. He has a track record of building and growing successful businesses including Newcrest Capital Inc. (as one of its co-founders) which was acquired by the TD Bank Financial Group in 2000. Mr. Grosskopf is a CFA® charterholder and earned an Honours Degree in Business Administration and a Masters of Business Administration from the Richard Ivey School of Business at the University of Western Ontario.
The Corporation provides alternative financing to a diversified group of private companies ("Private Company Partners") in exchange for royalties or distributions from the Private Company Partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Royalties or distributions to Alaris from the Private Company Partners are adjusted annually based on the percentage change of a "top line" financial performance measure such as gross margin, same clinic sales, gross revenues and same-store sales and rank in priority to the owners' common equity position.
SOURCE Alaris Royalty Corp.