TORONTO, March 31, 2016 /PRNewswire/ - Columbia Pacific Advisors, LLC ("Columbia Pacific" or "we"), holder of 16.6% of the outstanding common shares of TeraGo Inc. ("TeraGo", or the "Company")(TSX: TGO), issued a statement today commenting on the reconstitution of the board of directors of TeraGo (the "Board"):
"We appreciate the constructive working relationship we have built with the Board of TeraGo. As the second largest shareholder of the Company, we believe that the addition of three new independent and highly qualified individuals to the Board will enhance and accelerate TeraGo's transition to a rapidly growing, cloud-focused enterprise services provider. We believe these individuals will contribute valuable and relevant industry, strategic, and capital allocation expertise to better enable the Company to navigate a fast-changing business and technology climate and drive returns for shareholders," said Alex Washburn, Managing Partner and Co-Founder of Columbia Pacific Advisors.
About Columbia Pacific Advisors, LLC.
Columbia Pacific Advisors, LLC is a SEC registered advisor that manages assets of over US$1 billion in a variety of alternative investment strategies. The firm has deep experience in real estate, public and private equity, distressed debt and special situation lending. Columbia Pacific Advisors, LLC is headquartered in Seattle, WA.
SOURCE Columbia Pacific Advisors, LLC