Kuber Announces Appointment of New Independent Directors

TORONTO, Aug. 9, 2022 /CNW/ - Kuber Mortgage Investment Corporation ("Kuber") has announced today the appointment of Paul Haber, William Jandrisits, and Steven Delaney to the board of directors (the "Board") following the departure of Oswald De Silva, a long-serving member of the Board, effective August 1, 2022. In addition, Sutha Kunam, President and CEO, has been named as Executive Chairman of the Board.

"We are pleased to welcome Paul Haber, William Jandrisits, and Steven Delaney as new independent directors to the Board," said Sutha Kunam. "The addition of these directors complements our existing skills and experiences, and we are confident they will provide valuable perspectives as we continue to execute our strategy, drive growth, and build long-term shareholder value for Kuber investors. We would also like to thank Mr. De Silva for his hard work and dedication over the years, and we wish him a very happy and well-deserved retirement."

With these changes, Kuber's Board now comprises five directors, three of which are independent.

Paul is the Chairman and Managing Director of Summit Bancorp Inc., a Toronto-based merchant bank. Paul has been involved in corporate finance and capital markets for over 25 years. Paul has sat on numerous boards including Payfare Inc., Datametrex AI Limited, Graph Blockchain Inc., XTM Inc., South American Silver Corp., Migao Corporation, China Health and Diagnostics Inc., High Desert Gold Corp., and IND Dairytech Inc., typically as the Chair of the Audit Committee.

He is both a Chartered Accountant and a Certified Public Accountant, with an Honours Bachelor of Arts Degree in Management from the University of Toronto. Paul obtained his Chartered Director designation from the DeGroote School of Business at McMaster University in partnership with the Conference Board of Canada.

Bill is the Managing Partner of Normera Capital Partners, an advisory and capital placement firm with offices in Toronto and New York. Bill is a Registered Representative of Ecoban Securities Corporation, a FINRA Registered Broker Dealer. Bill's prior roles include positions as Strategic Lead ? Market Conduct at Financial Services Regulatory Authority of Ontario (FSRAO), President & CEO of MCAN Mortgage Corporation, a publicly-traded, federally-regulated financial institution, Member of the Investment Committee for KingSett Capital - High Yield Fund, Director of Finance and Director of Investor Relations & Strategic Initiatives ? Canada for Starwood Capital Group, and over 13 years with RBC Financial Group in positions including Industry Manager for Real Estate and Managing Director North American Real Estate.

Bill holds both an MBA and HBA from the Ivey School of Business, University of Western Ontario, as well as the Series 7, 63 and 79 securities registrations with FINRA. Bill obtained his ICD.D certification from the Institute of Corporate Directors, Rotman School of Business.

Steven is the CEO & Co-founder of Capital Blockchain, a Canadian firm that develops Blockchain solutions for the private and public sector. Previously, Steven was the CIO of the Ontario Telemedicine Network, CIO of MCAP (a $100B mortgage firm), CIO of MedAvail, and Vice-President at RBC and BCE. Steve has been an active board member for 15 years. He is currently on the Advisory Council at the Toronto Metropolitan University and on the board of iVedha. He has been on the board of MPAC and the CIO Association of Canada for many years.

Steve is a PhD candidate in Computer Science working on the data quality of healthcare records. He holds an MBA from York University and an Honours Bachelor of Science degree from the University of Toronto. He obtained his ICD.D certification from the Institute of Corporate Directors, Rotman School of Business.

Kuber, founded in 2016, is a non-bank lender that provides highly personalized short-term mortgage loans to credit-worthy borrowers whose financial needs cannot be met by the conventional lending restrictions of banking institutions. Kuber offers investors who wish to take part in mortgage investments, but who may lack the expertise, time, energy, or investment capital required to invest, a unique opportunity to invest in a diversified pool of mortgages, concentrated mainly in the Greater Toronto Area. Kuber has assets under management of over $126 million as of August 1st, 2022.

Additional information on the Company is available at www.kubermic.com

Although forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

SOURCE Kuber Mortgage Investment Corporation