2007 annual report aveiro investment corp. - First West Properties

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EXPERIENCE AND EXPERTISE The Aveiro team is a group of real estate and business professionals with proven track records and the skills necessary to build a substantial, and profi table, real estate portfolio in Western Canada. TEAM MEMBERS THE AVEIRO TEAM Eric Wesling, President Eric Wesling joined Aveiro as Executive Vice-President, Real Estate, in February 2007; he was appointed President in September 2007. Eric is a real estate professional with 25 years’ experience in acquiring, managing and developing real estate across Canada. 8 | Aveiro Investment Corp. | 2007 Annual Report SENIOR MANAGEMENT TEAM Eric Wesling, John Mackay, Harold Kunik He spent 18 years with Oxford Properties Group Inc., taking on the position of Senior Vice-President, Western Canada before forming his own real estate consulting practice in 1998. While at Oxford Properties Group Inc., Eric was responsible for the company’s acquisition of such major commercial properties as Gulf Canada Square and the Calgary Tower in Calgary, and 401 West Georgia and Granville Square in Vancouver, British Columbia. He was also responsible for managing Oxford’s renovation of major commercial properties – ranging in scope from $20 to $200 million – as well as acting as project manager for new development construction projects valued from $8 to $600 million, including the Calgary Eaton Centre and the Ernst and Young Tower (Calgary).
Harold Kunik, Chief Financial Officer and Director Harold was a co-founder of Aveiro and began the year as President. He now holds the offi ce of Chief Financial Offi cer of both Aveiro and Mosaic Capital Partners Ltd., manager of a private income fund investing in Western Canadian businesses. He began his career with KPMG Peat Marwick in Edmonton in 1983 and transferred with the fi rm to New Zealand from 1987 to 1992. He has also worked as a manager or partner with private equity fi rms in Edmonton and Calgary and, in that capacity, has served as chief fi nancial offi cer and as a director of several public and private businesses. Harold holds two professional accounting designations: Certifi ed Management Accountant (1986) and Chartered Accountant (NZ) (1992). John Mackay, Chairman of the Board and Director A lawyer by training, John was a co-founder of Aveiro and is both Chairman of Aveiro and President of Mosaic Capital Partners Ltd., manager of a private income fund investing in Western Canadian businesses. John was formerly a partner in the corporate fi nance and mergers and acquisition practice group at McCarthy Tétrault LLP – one of Canada’s largest law fi rms. There, he advised public and private companies, venture capitalists, private equity funds and underwriters on the structuring and securities law implications of domestic and international private placements, public offerings, corporate reorganizations, mergers and acquisitions. Frank Phillet, Director Frank is a chartered accountant and entrepreneur. He is currently chief fi nancial offi cer of DevStudios International Inc., an Edmonton-based software development company that has been ranked by PROFIT magazine as one of Canada’s 100 fastest growing companies and by Alberta Venture Magazine as one of Alberta’s 30 fastest growing companies. Dallas Wingerak, Director Dallas began her career as an urban planner, working for cities, towns and regional districts in British Columbia and Alberta (including Airdrie, Alberta, where Aveiro recently purchased 77 acres of undeveloped industrial land). She also has extensive experience in industry, having worked for a private developer and as a development consultant. Dallas is currently the Director, Real Estate, for Loblaw Properties West Inc. Aveiro Investment Corp. | 2007 Annual Report | 9
Page 1 and 2: AVEIRO INVESTMENT CORP. 2007 ANNUAL
Page 3 and 4: CHAIRMAN’S LETTER DEAR FELLOW SHA
Page 5 and 6: ASSETS SASKATOON TOTAL OF APPROXIMA
Page 7: ASSETS AIRDRIE 77 ACRES OF UNDEVELO
Page 11 and 12: JULY 2007 Private Placement In July
Page 13 and 14: WHY SASKATCHEWAN? Once solely an ag
Page 15 and 16: OVERVIEW About Aveiro Aveiro is an
Page 17 and 18: OVERALL PERFORMANCE Financial Posit
Page 19 and 20: The Warehouse Mortgage is a fi rst
Page 21 and 22: a company with common management. I
Page 23 and 24: During the 2008 fi scal year, the C
Page 25 and 26: properties. The ability of Aveiro t
Page 27 and 28: OUTSTANDING SHARE DATA Common Share
Page 29 and 30: The rates are determined based on m
Page 31 and 32: AUDITOR’S REPORT To the sharehold
Page 33 and 34: STATEMENTS OF LOSS AND DEFICIT Year
Page 35 and 36: NOTES TO THE FINANCIAL STATEMENTS J
Page 47 and 48: AUDITORS Grant Thornton LLP 1000, 1

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