Newfoundland Capital Corporation Limited Announces Retirement of Chairman Harry R. Steele

DARTMOUTH, NS, Feb. 26, 2018

The Board of Directors have designated him as Chairman Emeritus.

Mr. Robert G. Steele, President and Chief Executor Officer of the Company, has been appointed Chairman of the Board of Directors effective February 26, 2018. "I look forward to continuing to work with the Board and management team to build upon the success of the Company," commented Rob Steele. 

Mr. Rob Steele has led management and the Company in focusing on the radio broadcasting industry, successfully growing Newcap Radio into the largest pure radio company in Canada with 101 broadcast licences across the country.

About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) owns and operates Newcap Radio, which is one of Canada's leading radio broadcasters with 101 broadcast licences (72 radio stations and 29 repeating signals) across Canada.  The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking.

This press release contains forward looking statements. These forward-looking statements are based on current expectations. The use of terminology such as "expect", "intend", "anticipate", "believe", "may", "will", "should", "would", "plan" and other similar terminology relate to, but are not limited to, our objectives, goals, plans, strategies, intentions, outlook and estimates. By their very nature, these statements involve inherent risks and uncertainties, many of which are beyond the Company's control, which could cause actual results to differ materially from those expressed in such forward-looking statements. As a result, there is no guarantee that any forward-looking statements will materialize and readers are cautioned not to place undue reliance on these statements. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.