Invesque CEO, Scott White, Appointed as Chairman of the Board of Directors and Chuck Herman Appointed Lead Independent Director
TORONTO, ONTARIO, MARCH 12, 2019 – Invesque Inc. (TSX:IVQ.U) (the “Company“) announced today that Scott White, Chief Executive Officer of the Company has been appointed Chairman of the Board of Directors. Scott White has been CEO of Invesque since January 2017. Under Scott’s guidance and leadership as CEO, the Company has nearly tripled its asset size since inception.
The Company also announced today that Charles “Chuck” Herman will serve as lead independent director. Chuck spent 15 years in various roles at Welltower, Inc. (formerly known as Health Care REIT, Inc.) including Chief Investment Officer, Executive Vice President, and President-Seniors Housing and Post Acute. During his tenure, Chuck helped Welltower grow into one of the largest health care REITs. Chuck has previously contributed to several boards of health care focused organizations, including Argentum, National Investment Center (NIC), and American Seniors Housing Association.
The Company also announced today that Rick Turner, Chairman of the Board of Directors, and Lis Wigmore resigned from the Board of Directors effective immediately. Rick Turner indicated that he resigned as a result of differences in opinion at the board level regarding the process around determining the composition of the Board. Certain of the Company’s largest shareholders had previously notified management that they would not be supportive of the re-election of certain directors at the next Annual Meeting.
“I truly appreciate all the work and guidance Rick and Lis have contributed in the Board room,” said Scott White. “I look forward to joining the Board and moving forward to execute on our strategy.”
Invesque is a health care real estate company with an investment thesis centered around the opportunity created by the global aging demographic trend. Invesque currently capitalizes on this opportunity by investing in a highly diversified portfolio of income generating health care properties located across the United States and Canada through long-term absolute net leases, joint ventures, and development capital. For more information, visit www.invesque.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking information that reflects the current expectations of management about the future results and opportunities for the Company. Forward-looking statements generally can be identified by words such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, “project”, or “continue” or similar expressions suggesting future outcomes or events. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company’s weighted average cost of debt. Such forward-looking statements reflect the Company’s current beliefs and are based on information currently available to management. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties including the factors discussed under the heading “Risk Factors” in the Company’s annual information form available at www.sedar.com, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof and to not use such forward looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman & CEO