Loyalist Group Limited appointed Ron Schwarz to the Board of Directors effective as of August 11, 2015. Mr. Schwarz as an Independent Director will also serve on the Audit Committee and the Compensation and Governance Committee of the Company. Mr. Schwarz is a well-qualified addition to the Board, with a strong corporate governance background and capital markets experience.

He currently serves on the Boards of Directors of Noble Iron Inc. (NIR-TSXV) and CHC Student Housing and is an outgoing Board member and Chair of the Communications Committee at CFA Society Toronto. Ron has also been an advisor to private companies including Stack Wines. Previously Ron was an Executive Director and Portfolio Manager at UBS Global Asset Management and held several senior roles at CIBC including Managing Director, Canadian Cash Equities and Co-Head Canadian Equities.

Mr. Schwarz will also act as Montrusco's nominee Director, which is pursuant to a nomination right which the company has granted to Montrusco in conjunction with its investment.