Investor Relations Contact: For more information please contact Christopher MacIntyre at 905-470-6588
Corporate Events
March 31, 2008 - Groupworks Announced Second Quarter Results
March 12, 2008 - Derrick March Resigned From Groupworks Board of Directors
Groupworks Financial Corp. announced that Derrick March has resigned from the Board of Directors of Groupworks Financial Corp. Derrick March has been a valuable director, who guided Groupworks through the transition to a publicly traded company. We wish Derrick the best of success in his future endeavours.
March 3, 2008 - Gery Barry Joined Groupworks Board of Directors
Groupworks Financial Corp. announced the appointment of Gery J. Barry to the Board of Directors of Groupworks Financial Corp. Currently he serves as President and Chief Executive Officer of Blue Cross and Blue Shield of Louisiana, which manages the health and medical benefits for over 1.1 million individuals. Blue Cross is the largest insurer in the State of Louisiana with 1,600 employees, $3.5 billion of annual healthcare expenditures under administration. Prior to joining Blue Cross and Blue Shield of Louisiana, Mr. Barry was President and Chief Executive Officer of Liberty Health (formerly Ontario Blue Cross). Through his leadership the company became one of Canada’s leading health and disability insurance companies. He simultaneously served as Liberty Mutual’s Chief Agent in Canada, with governance responsibilities for all of Liberty’s property/casualty branch operations in Canada.
January 24, 2008 - Groupworks Announced First Quarter Results
January 4, 2008 - Groupworks Founder Passed on Reigns
Groupworks Financial Corp. announced that Derrick March has resigned from his position as CEO of the Company. Mr. March is a founder of Groupworks. Under his leadership, the Company’s acquisition mandate of purchasing independent insurance brokerages and consulting firms has made significant progress. The Company also completed its transition to a publicly traded entity under Mr. March’s guidance. Mr. March will continue as a member of the board of directors and significant shareholder in the Company and has been retained by Groupworks as a consultant. The Board of Directors of Groupworks also announces that it has appointed John Gallivan as President. John Gallivan is an experienced operator and leader with 25 years of insurance brokerage experience. Mr. Gallivan sold his business to Groupworks in July 2007 and is the largest single shareholder of the Company. He is now assuming an executive role and taking a seat on the board of directors.
December 14, 2007 - Groupworks Issued Shares to Satisfy Vendor Take-Back Debt on Buffett Taylor Acquisition
Groupworks Financial Corp. issued 100,776 common shares valued at $0.51 per share in part to settle the first year vendor take-back debt payment related to the adjusted purchase price for Buffett Taylor & Associates Insurance Agencies Inc., acquired in September 2006. Pursuant to the purchase and sale agreement, the Company exercised its option to issue shares in partial settlement of the debt, representing approximately 10% of the first year payment. The Company satisfied the other 90% of the first year payment with cash.
September 18, 2007 –Robert Sillcox joined Groupworks Financial Corp. Board of Directors
Groupworks Financial Corp. announced that Robert Sillcox has joined the Board of Directors of Groupworks Financial Corp. Widely recognized as the former Senior Vice President and Chief Investment Officer of OMERS, Mr. Sillcox has significant investment experience gained from both the buy/sell and management areas of the investment, banking, insurance and pension industries. Mr. Sillcox has also served as Chairman of both the Pension Investment Association of Canada (PIAC) and the Pension Investment Committee (Canada) of the Financial Executives International (FEI), as a member of the President’s Investment Advisory Committee of the University of Toronto, and as a member of the Advisory Committee of State Street Global Advisors Canada. He currently sits as an independent Board Member of Glenmount International and HelpCaster Technologies and is a Trustee of Ridley College (St. Catherines, ON).
July 31, 2007 – Groupworks Financial Corp. released 3rd quarter results and MD&A
July 9, 2007 – Groupworks Financial Corp. acquired Gallivan & Associates Student Networks Groupworks Financial Corp. announced the acquisition of Gallivan & Associates. The firm will carry on business under its current name. The acquisitions are in keeping with Groupworks’ primary business objective of consolidating benefits and pension advisory businesses under a single corporate entity to achieve economies of scale and growth.
June 29, 2007 – Groupworks Financial Corp. announced hiring of Christopher MacIntyre
Groupworks Financial Corp. announced the hiring of Christopher MacIntyre, Business Development Manager. Mr. MacIntyre is an example of the next generation advisor, with previous experience as a principal of CRM Financial Services, and Clarica Financial Services where he successfully completed the sales training program.
June 6, 2007 – Groupworks Financial Corp. announced exercise of over-allotment option
Groupworks Financial Corp announced that, Jones, Gable & Company Limited, the underwriter of the Initial Public Offering exercised the over-allotment option in full to purchase an additional 600,000 Units at $0.60 per Unit.
May 28, 2007 – Groupworks Financial Corp. announced completion of its Initial Public Offering
Groupworks Financial Corp. announced it completed its Initial Public Offering pursuant to its Prospectus dated April 27, 2007 which has been filed with and receipted by the Ontario, British Columbia, and Alberta Securities Commissions. The Common Shares of the Corporation began trading under the symbol GWC on the TSX Venture Exchange at market open on Wednesday, May 30, 2007. The total proceeds received by the Corporation were $3,780,000 (6,300,000 Units at $0.60 per Unit) which represents the maximum available offering.
December 1, 2006 – Groupworks Financial Corp. hired Rocco Liscio as CFO
Groupworks Financial Corp. announced the hiring of Rocco Liscio as Chief Financial Officer. Prior to joining Groupworks, Mr. Liscio held a variety of senior executive positions including Vice President, Finance and Chief Financial Officer of Richards Packaging Income Fund, Chief Financial Officer of Royal Lepage Inc., and Chief Financial Officer of Dexior Financial (Ontario) Inc. Mr. Liscio holds a Bachelor of Commerce from the University of Toronto and is a Chartered Accountant.
September 1, 2006 – Groupworks Financial Corp. acquired Buffet Taylor & Associates and The Investment Guild
Groupworks Financial Corp. announced the acquisition of benefits consulting firms, Buffet Taylor & Associates Insurance Agencies Inc., and The Investment Guild Insurance Agency Inc. Both firms will carry on business under their current names.
The acquisitions are in keeping with Groupworks’ primary business objective of consolidating benefits and pension advisory businesses under a single corporate entity to achieve economies of scale and growth.
August 1, 2006 – Groupworks Financial Corp. hired Derrick March as CEO
Groupworks Financial Corp. announced the hiring of Derrick March as Chief Executive Officer. Formerly the Director of Group Marketing for Great-West Life Assurance Co., Mr. March holds a Bachelor of Commerce (Honours) from Queen’s University and a Certified Employee Benefits Specialist designation from the International Foundation of Employee Benefits in conjunction with Dalhousie University.