TORONTO, Sept. 27, 2017 /CNW/ - Fountain Asset Corp. (FA: TSXV) (the "Company") today announces the retirement of Jason G. Ewart as Chief Executive Officer and a director of the Company, effective October 15, 2017.  Since co-founding the Company in 2003, Mr. Ewart has served as CEO and Director.  The Company is searching for a new Chief Executive Officer and expects to fill the position on a timely basis. Mr. Ewart has agreed to assist with the transition.

"This is a natural evolution in the development of Fountain.  I look forward to assisting with the strategic initiatives and transitioning of a new CEO for Fountain," said Mr. Ewart.  He added, "After producing six consecutive profitable quarters, Fountain is well positioned today for its next stage of expansion with a strong balance sheet and a diverse portfolio of investee companies.  I cherish the time I have spent building and working with my management team at Fountain."

The board of directors of the Company expresses its appreciation for Jason's contributions to the Company over the last 15 years and wishes him the best with his future endeavours.

About Fountain Asset Corp.

Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.

Forward-Looking Statements

Certain information contained in this press release constitutes forward-looking information, which is information relating to possible events, conditions or results of operations of the Company, which are based on assumptions and courses of action and which are inherently uncertain. All information other than statements of historical fact may be forward-looking information. Forward-looking information in this press release includes, but is not limited to, statements regarding the ability of the Company to find a new CEO on a timely basis. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Some of the risks and other factors which could cause results to differ materially from those expressed in forward-looking information contained in this press release include, but are not limited to: the ability of the Company to successfully find a new permanent CEO on a timely basis or at all. The forward-looking information contained in this press release is provided as at the date of this press release, based upon the opinions and estimates of management and information available to management as at the date of this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information contained in this press release.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fountain Asset Corp.

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