NEW YORK, March 3, 2017 /PRNewswire/ -- MFC Bancorp Ltd. ("MFC" or the "Company") (NYSE: MFCB) announced today that Michael Smith, its Managing Director, has been appointed as the Company's interim President and Chief Executive Officer. Mr. Smith replaced Gerardo Cortina, who has resigned as President and Chief Executive Officer of the Company in order to pursue outside opportunities. Mr. Cortina will continue with the Company on a part-time basis as Vice President in order to assist with the transition.
MFC is a merchant bank that provides financial services and facilitates structured trade for corporations and institutions. We specialize in markets that are not adequately addressed by traditional sources of supply and finance, with an emphasis on providing solutions for small and medium sized enterprises. We operate in multiple geographies and industries.
As a supplement to our operating business, we commit proprietary capital to assets and projects where intrinsic values are not properly reflected. These investments can take many forms, and our activities are generally not passive. The structure of each of these opportunities is tailored to each individual transaction.
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SOURCE MFC Bancorp Ltd.