Cliffside Capital Ltd. announced the appointment of Steve Malone as Chief Executive Officer effective as of May 22, 2018, the date of the company's annual general meeting of shareholders. Mr. Malone will replace Fern Glowinsky, who has resigned as Chief Executive Officer effective as of May 22, 2018. Ms. Glowinsky will not be standing for re-election to the Board of Directors, and Mr. Malone will be nominated for election as a director at the AGM.

Mr. Malone is a seasoned financial services executive, having spent most of his career in the consumer finance space. Mr. Malone spent 15 years with Wells Fargo Financial Corporation Canada in various leadership roles, including Officer and Vice President Credit Operations. Subsequently, Mr. Malone spent 3 years with D+H Corporation and he is currently President and Chief Operating Officer of CanCap Management Inc. Mr. Malone's appointment as CEO and election as director of Cliffside is subject to review and approval by the TSX Venture Exchange.