TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- Gravitas Financial Inc. (CSE:GFI) ("Gravitas") announced today that it is undertaking, in conjunction with the majority holder of its secured bonds, a strategic review of its investment holdings with a view to streamlining and strengthening its core holdings.
This could involve dispositions, new investors and other restructurings. As part of this exercise, for a period ending April 30, 2019, Gravitas was exempted from making the interest payment due on March 31, 2019.
Gravitas is pleased to announce the appointment of Mr. Yongbiao Ding, also known as Winfield, as an independent board member and the chair of the audit committee. Mr. Ding has been CFO and director for a number of public companies in Canada and US. He is a seasoned senior finance executive with over twenty years of finance and operations experience. A former audit manager and currently a self-practitioner, he worked in audit, taxation and advisory across a wide range of industries with a focus on public issuers financial reporting and advising Asian investors doing business in Canada. He has been an Independent Director and Audit Committee Chairman of CF Energy Corp. (TSXV:CFY) since March 10, 2015.
ABOUT GRAVITAS FINANCIAL INC.
Gravitas Financial Inc. is a platform company that creates businesses in key traditional and emerging sectors with strong industry partners. Our industry focus includes financial services, fintech, and Sino-Canadian mining. We leverage our unique platform to develop a continuous pipeline of new ventures with significant blue-sky potential. Our platform is complimented by strong investment research and digital investment media groups.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Vikas Ranjan, President, Gravitas Financial Inc.
Source: Gravitas Financial Inc.