LX Ventures (LXV-V) names Inwentash, Lawton to advisory board
April 16, 2013 - News Release
LX Ventures Inc. has made two new additions to its advisory board: Sheldon Inwentash, chairman and chief executive officer of Pinetree Capital, and Alison Lawton, a Canadian business executive and social venture philanthropist. These additions bring the advisory board to five members. The advisory board operates in a fully advisory capacity, and is independent of the board and management, providing input and advice on the development of the company's technology businesses.
As founder, chairman and chief executive officer of Pinetree Capital, Mr. Inwentash is responsible for creating the overall strategic vision and setting the direction for Pinetree. A true entrepreneur, Mr. Inwentash began his investing career while still working to attain his chartered accountant designation in 1981. In 1992, Pinetree was founded to be a venture investor in early stage, emerging technology companies. It was initially capitalized with approximately $4-million and grew investments to a value of over $800-million in 2007. Mr. Inwentash brings more than 25 years of experience in the investment industry and a deep understanding of progressive investment and financial management strategies. Mr. Inwentash obtained his BComm from the University of Toronto and is a chartered accountant. In 2012, Mr. Inwentash received an honorary doctor of laws (LLD) from the University of Toronto for his valuable leadership as an entrepreneur, philanthropist, and his inspirational commitment to making a difference in the lives of children and the future generations.
Ms. Lawton is a Canadian business executive and social venture philanthropist who has championed high-level advocacy initiatives for global humanitarian issues. Ms. Lawton began her business career in private equity sales in the areas of syndicated software, film, television, real estate and tax shelter offerings, and was also one of three founding partners of ideaPARK, a leading technology business incubator that was listed on the Toronto Stock Exchange. Ms. Lawton currently sits on the advisory council for Sir Richard Branson's foundation, Virgin Unite Canada and the B.C. Partners for Social Impact. She is former co-chairman of an action network of the Clinton Global Initiative, focused on Congo, and former chairman of the "Unite for Children Unite against AIDS" campaign for UNICEF Canada, receiving their Champion for Children Award in 2006. She founded and manages Mindset Social Innovation Foundation, a non-profit that takes a collaborative and entrepreneurial approach to the possibilities of social innovation and brings awareness to some of the most challenging issues of these times.
In addition, LX Ventures has arranged a strategic non-brokered private placement and will issue four million shares of LX Ventures at a price of 20 cents per share. No warrants are attached to this placement. LX Ventures intends to use the proceeds of the offering for general working capital. The offering is subject to the approval of the TSX Venture Exchange.
"Ms. Lawton and Mr. Inwentash bring extensive capital markets and business skills to the advisory board, as well as specific experience in early stage technology companies. Their expertise will strengthen the company's ability to connect with key capital markets participants and to create shareholder value through launching, acquiring and integrating high-growth technology companies that allow investors to diversify from resource-focused portfolios," said Mike Edwards, president and chief executive officer of LX Ventures.
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