Management

Mr. Espig assumed the role of President and CEO on November 7, 2013 and guided the Company through its restructuring, which included entering the company into CCAA and successfully exiting on November 21, 2014. He is experienced in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring, and corporate turnaround. Mr. Espig has structured over US$2.0 billion in private equity and pre-IPO investment transactions from the principal side and is a pioneer of SPACs, having completed over $1.0 BN in transactions.

Mr. Espig served as Vice-President of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan. Prior to joining Goldman Sachs, Mr. Espig was Vice-President of Olympus Capital, a New York private equity firm, where he participated in corporate restructurings, investment analysis and financing negotiations for both domestic and international investments.

In 1989, Mr. Espig received his B.A. from the University of British Columbia and later received his MBA from Columbia Business School, where he was a Chazen International Scholar.

Mr. Espig has been active in the turnaround of mining projects and has functioned in management and director roles for numerous mining companies.

Mr. Bay has been a member of the Institute of Chartered Accountants of B.C. since 1979. Mr. Bay practiced for over 10 years with one of the big five public accounting firms and is specialized in the audit of public mining companies. He also owned and operated a group of companies in the hospitality industry for 15 years. Prior to joining Nicola Mining Inc., he spent 17 years in the financial services industry where he focused on raising capital for junior mining companies and exploration projects.