CareVest

CareVest Capital Inc. is an integrated real estate lender and investment management company servicing Western Canada and Ontario borrowers and real estate mortgage investors.

CareVest is led by a highly competent, experienced and well connected management team. Representing over 3,700 investors and having over $325 million in assets under administration. The officers and directors have in excess of 100 years experience in the commercial mortgage business. The core competencies required to manage its portfolio have been built within the company by a significant investment of financial and human resources. A brief background on each of the officers is outlined below.

Richard DeGroat is the Chief Executive Officer, co-founder and a director of CareVest Capital Inc. Mr. DeGroat is a lawyer and from July 1980 to October 1995 he was a partner with a major Alberta-based law firm practising in the areas of corporate finance and insolvency. In October 1995, Mr. DeGroat became a principal and a managing director of a merchant banking organization which acquires active equity positions as principal in high growth private and public companies. Mr. DeGroat has over 24 years of experience in the legal, investment and finance industries.

Alan B. Baumann is President, Chief Operating Officer and a director of CareVest Capital Inc. Mr. Baumann has been active in residential and commercial real estate development since 1981. Prior to joining CareVest, Mr. Baumann held several senior management positions including Director of Business Development for a Victoria, British Columbia based real estate investment company. From 1981 to 1991, Mr. Baumann was Treasurer and Manager of Development and Finance for a Winnipeg, Manitoba based real estate development and syndication company. Mr. Baumann is a Certified General Accountant, A Chartered Surveyor and obtained his Masters of Business Administration from the University of Heriot Watt.

Roy A. Goddard is Chief Financial Officer of CareVest Capital Inc. Mr. Goddard is a Chartered Accountant and has been in the construction and real estate industry since 1998. Prior to joining CareVest, Mr. Goddard was the Vice President and Chief Financial Officer of a real estate and technology company in the mortgage origination industry. Mr. Goddard has held the position of Corporate Controller for a resort development company.

Jill W. Plasteras is CareVest Capital Inc.'s Director of Mortgage Investments. Ms. Plasteras has been in construction and real estate financing since 1980. Ms. Plasteras has held several senior financial positions including Vice President of Finance for a privately held Victoria based company and nine years as Accounting Manager for a large construction company based in Edmonton, Alberta. Ms. Plasteras is a Certified Management Accountant.