Timbercreek Financial Announces Changes to its Board of Directors

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TORONTO, Nov. 06, 2018 (GLOBE NEWSWIRE) --  Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) has announced the resignation of Andrew Jones as a director of the Company, effective today.  Mr. Jones played a key role in the development of the Company and its predecessors, and the board of directors wishes to extend their sincere thanks to Mr. Jones for his significant contributions.

The Company is pleased to announce the appointment of Cameron Goodnough to its board of directors (the “Board”), effective November 7, 2018.  Mr. Goodnough was appointed President of the Company on March 15, 2017 and as Chief Executive Officer on January 1, 2018, after serving previously as Vice President of Finance and Corporate Development of the Company. He is also Managing Director, Corporate Development for Timbercreek Asset Management Inc. (“Timbercreek”)., the manager of the Company.

Upon joining Timbercreek in November 2016, Mr. Goodnough brought with him significant experience in capital markets and investment banking, with 17 years at firms such as Merrill Lynch Canada, RBC Capital Markets and as Managing Director with the Financial Institutions Group at TD Securities.

The Company is also pleased to announce that Pamela Spackman will be joining its Board, effective January 1, 2019.  Ms. Spackman has a deep real estate background generally, and particularly in respect of the Canadian commercial mortgage environment. Previously, Ms. Spackman held the positions of Vice President-Mortgage Investments at British Columbia Ministry of Finance (Canada) and President & Chief Executive Officer at Column Canada Financial Corp. Ms. Spackman was also previously a contributor to the Timbercreek mortgage business as a member of the manager’s Credit Committee from 2008 to 2016, and as a result is well-versed in the Company’s business and familiar with its senior management team.

Ms. Spackman currently sits on the boards of Slate Office REIT and WPT Industrial Real Estate Investment Trust.

About Timbercreek Financial

Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors.

Disclaimers

This news release contains forward-looking statements about Timbercreek Financial. Forward-looking statements are typically identified by words such as "expect", "anticipate", "believe", "foresee", "could", "intend", "plan", "seek", "strive", "will", "may", "potential" and "should" and similar expressions concerning matters that are not historical facts. By their nature, forward looking statements reflect Timbercreek Asset Management Inc.'s and the Company's current views, beliefs, assumptions and intentions, and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the Company's public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. The Company does not intend to nor assumes any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Timbercreek Financial

Cam Goodnough

President & Chief Executive Officer