The Trapeze Team

The following professionals comprise the Trapeze team, which includes members of Trapeze Asset Management Inc. (TAMI) and Trapeze Capital Corp. (TCC), an affiliated investment dealer and portfolio manager. All ideas and strategies are shared between TAMI and TCC in a common forum among both firms’ portfolio managers and research analysts.

Herbert Abramson, B.A., LL.B. Herb is a co-founder, Chairman and a portfolio manager at TAMI. He is also a co-founder, Chairman, and a portfolio manager at TCC. Previously, he was a Vice President and portfolio manager at Connor Clark & Company Ltd. for 17 years. Herb is a member of the Law Society of Upper Canada and practiced corporate/securities law as a partner at Goodman and Carr for 12 years before going into the investment business.

Randall Abramson, B.Comm., CFA Randall is a co-founder, President and CEO, and a portfolio manager at TAMI. Randall is also a co-founder, President and CEO, and a portfolio manager at TCC. Previously, Randall was a portfolio manager and analyst at Connor Clark for 3 years. Prior thereto, he was an analyst and portfolio manager at institutional money manager, Hodgson Roberton Laing Limited for 5 years. Randall began his career in investment banking with The Hathaway Corporation.

Adam Abramson, LL.B., CFA Adam is a Vice President and portfolio manager at both TAMI and TCC. He is also responsible for legal, compliance and various administrative functions for both firms. Prior to joining us in 2001, Adam was Director, Acquisitions & Research at one of Canada's leading institutional real estate investment advisors. He is a member of the Law Society of Upper Canada, having practiced law briefly before entering the investment business.

Donald Carlisle B.A.Sc., S.M., M.B.A. (Chicago), CFA Don is a Vice President and portfolio manager at TAMI. Prior to joining TAMI in 2001, Don was a Vice President, Director, partner and portfolio manager with Connor Clark/RBC Private Counsel for 14 years. Don has significant corporate and consulting experience in corporate finance, real estate finance, international project finance, and treasury.

Lorne Graham, B.Comm., M.B.A. (Harvard) Lorne is a portfolio manager at TCC. Lorne is an experienced investment professional having been in the investment business for 30 years. Prior to joining TCC in 1999, he was the Director of Corporate Finance at Sprott Securities for 16 years.

Richard Hermon B.A., LL.B., B.C.L. Richard is a portfolio manager at TCC’s Ottawa office. Richard has been with TCC since its inception in 1998. Prior thereto, he was a portfolio manager and branch manager of Connor Clark's Ottawa office for 10 years and worked for 5 years in the investment business at brokerage operations in Ottawa and Montreal.

Gil Levinson, B.A. Gil performs research and analysis for TCC and TAMI using the SVA™ work and Investt, a comprehensive analytic investment software system which he created and which is licensed to major financial institutions internationally. He joined us in 2005, having spent many years in the investment business in Canada with First Marathon and Midland Doherty, as well as in South Africa with Ivor Jones Roy.

Debbie Mendelson, CFP, FMA, FCSI is an Investment Advisor at TCC, with over 15 years of investment industry experience. Prior to joining TCC in 2009, Debbie was an associate investment advisor for 9 years at TD Waterhouse Private Investment Advice where she provided customized investment solutions, financial planning advice, retirement strategies and estate planning to high net worth individuals and their families.

Bryan Rakusin, B.Comm. Bryan is a Vice President and portfolio manager with TCC. Prior to joining TCC in 2000, Bryan was a Vice President, Director, partner and portfolio manager at Connor Clark for 19 years. Bryan and his family immigrated to Canada from South Africa in 1979. In 1972, Bryan founded a stock brokering company, which was a member firm of the Johannesburg Stock Exchange. From 1968 to 1972, he was a research analyst with Davis, Borkum, Hare & Partners, South Africa's largest stock brokering company.

RJ Steinhoff, BBA, CFA RJ is a Research Analyst with both TAMI and TCC. He joined us in 2009 after spending four years with ABC Funds, a Toronto-based value-oriented investment manager.

Mike Vinokur, B.Comm., CFA Mike is Vice President and portfolio manager at both TAMI and TCC. Prior to joining Trapeze in 2006 Mike was an advisor to high net worth individuals with several financial services organizations since 2001.

Anthony Visano, B.A., CFA Anthony is a Research Analyst with both TAMI and TCC., and is a registered portfolio manager with TCC. Since 2005, Anthony has focused on the research and analysis of Canadian and U.S. securities.

Relationship Management / Business Development

Jack Hayden, B.A., F.C.S.I. Jack is a Vice President and business development/client relationship manager at TAMI. Prior to joining TAMI’s Oakville office in 2003, he was a high net worth investment advisor, after working as an institutional investment advisor for 21 years - 13 of which were with Bunting Warburg/UBS Securities Canada where he was a Director. Prior thereto, Jack was with Richardson Greenshields as Vice President. He started his career as an investment research analyst at a leading insurance company.

Ryan Gordon Kirke, CFA, CFP Ryan joined us in 2009 to focus on business development and client relationship management at both TAMI and TCC. Ryan is an experienced investment professional having been in the investment business for over 10 years—most recently with TD Asset Management Inc. where he was an Investment Specialist.

Randall O'Leary, B.Comm., M.B.A. Randall is a Vice President at both TAMI and TCC, with a focus on marketing and client relationship management. He has over 20 years of investment industry experience in North America and abroad. Randall joined us in 2009 from Mackenzie Global Advisors where he was Senior Vice President. Prior experience includes 11 years as Senior VP & Managing Director - Canada for Baring Asset Management, 5 years as VP and Director of Marketing for SEAMARK Asset Management and 4 1⁄2 years as National Director, Special Products for Royal Trust.

Trading

David McCaslin David is Head Trader at TCC. He has been a trader for over 20 years. Prior to joining TCC in 2003, David was Head of Trading at Toronto-based J.C. Clark Ltd. for 2 years and at Connor Clark/RBC Private Counsel for 11 years.

Sam Tosaria, B. Comm. Sam is a Trader at TCC and is involved in research and analysis for both TAMI and TCC, primarily with respect to the firms’ licensed SVATM work. Prior to joining us in 2006, Sam worked for State Street's Alternative Investment Services division as an investment fund accountant.

Operations

Tim Ruuskanen Tim is Manager of Operations at TAMI and TCC. Prior to joining us in 2000, Tim spent 10 years at Connor Clark in various capacities, the last 2 years of which he was Manager of Client Services.

Mohammad Salam, CMA, CA Mohammad is Chief Financial Officer for both TAMI and TCC. He joined us in 2004, having spent the previous 5 years as CFO for a Toronto-based investment dealer. Mohammad previously worked for 10 years in the financial compliance department of the Investment Dealers Association and Toronto Stock Exchange.

Arman Pekel B.A., M.B.A. Arman is a Compliance Manager for both TAMI and TCC. Prior to joining us in 2007, Arman was employed in a similar role at BMO Harris Private Banking. Arman has been in the investment business since 1993, including extensive international experience, having worked as an institutional sales-trader in New York, London, and Istanbul for a U.S. brokerage firm specializing in emerging markets.