Mr. James Tansey reports

NATUREBANK ANNOUNCES APPOINTMENT OF NEW CFO AND DIRECTOR OF FINANCE

Naturebank Asset Management Inc. has accepted the resignation of its chief financial officer, Jeffrey Calvert, effective Dec. 1, 2015. Mr. Calvert has transitioned to the position of chief executive officer of wheat straw paper company Prairie Paper Inc.

Naturebank has appointed Phillip Cull to the position of CFO for Naturebank and Rosita Morandin to the director of finance role. Mr. Cull has most recently acted in the vice-president role at Naturebank, while Ms. Morandin has served as the finance manager.

Mr. Cull brings an extensive background in the financial sector to Naturebank, having worked at American Express Bank, Societe Generale, HSBC and Goldman Sachs over 10 years in the city of London. Directly prior to joining Naturebank, Mr. Cull was an executive director for Goldman Sachs International in its equities division. Mr. Cull also sat on the International Securities Lending Association's corporate governance committee. He has a master in climate change and risk management from the University of Exeter, and his bachelor of science is from the University of Hertfordshire. Over his six years at Naturebank, he has been focusing on project and portfolio management.

Ms. Morandin brings 20 years of accounting and finance experience to the director of finance position. Having started her career in the tax department at the Loewen Group, Ms. Morandin moved to PricewaterhouseCoopers before applying her skill set to a suite of early- and mid-stage venture companies. Ms. Morandin joined Naturebank's predecessor company, ERA Ecosystems, in 2009. Since joining the company, she has specialized in systems improvement and financial statement reporting. Ms. Morandin holds a bachelor's degree in business administration with a focus on accounting and finance, and is in the process of completing her chartered professional accountant designation.

"We would like to thank Jeff for his many years of dedicated service at Naturebank and we wish him great success as he endeavours to grow Prairie Paper's Step Forward Paper into a leading sustainable paper brand," commented James Tansey, chief executive officer of Naturebank. "I'd also like to congratulate both Mr. Cull and Ms. Morandin on their respective promotions within the company. Their deep experience and knowledge of the company has made this a seamless transition."

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