WINDSOR ? Rick Galdi has been appointed president, chief executive officer and chief operating officer of Essex Angel Capital Inc., a publicly traded angel capital company that hopes to build a $20 million fund to invest in promising Canadian and U.S. early stage companies.
He replaces Mark Meldrum, who previously held all three titles. Meldrum will remain chairman and director. Michael Labiak was appointed chief financial officer. Labiak was the corporation?s executive vice president and secretary.
Galdi has stepped down as president of Great Lakes Angels to focus on Essex Capital.
In December, Essex Angel Capital completed an initial public offering in British Columbia, Alberta, Ontario, Nova Scotia and Saskatchewan of 26,300,000 common shares in the capital of the Corporation at a price of $0.10 per Common Share for aggregate gross proceeds of $2,630,000, the maximum size of its proposed offering.
The net proceeds of the offering, together with the proceeds from prior sales of Common Shares, will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the Exchange’s capital pool company program.
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