President & CEO
Herbert Towning is a British Merchant Banker. He was educated at Nottingham University and The London School of Economics and Political Science. After graduation he entered Banking and Financial Services in the City of London.
He later left the UK for an International Banking career in Europe, US, Canada, the Bahamas and the Arabian Gulf. His career extended to Private Equity where he was a partner. He continues his activities in business development and private equity.
Alan Lawrence has been contracted to Pajak Engineering Ltd. as a Completions Superintendent for the past ten years.
Pajak Engineering is a private company headquartered in Calgary, Canada specializing in oil and gas well drilling and completion supervision and project management throughout the world. In addition to his work at Pajak, Lawrence has founded two companies, Pembina Consultants Ltd. and Deep Basin Well Servicing Ltd. Deep Basin Well Servicing at the time was one of the largest independent oilfield service rig contractors north of Edmonton, Canada. Lawrence is a former Director and Secretary of MCB Investments Corp., where he served on the audit committee.
Lawrence also served as President of a subsidiary company, MCB Cardsafe Systems Ltd. In addition, he has served on several boards of directors of not-for-profit companies and civic organizations. Lawrence received a Bachelor of Science Degree in Mechanical Engineering from the University of Alberta.
Chief Financial Officer
Mr. Derick Sinclair is an experienced CFO having worked with US and Canadian public and private companies for over 20 years. He is a contractor and devotes approximately 25% of his time to L.O.M. He is responsible for all financial related activities of L.O.M. including managing the accounting records, reporting internally and externally, ensuring audited financial statements are prepared in a timely manner, working with the CEO and board of directors on corporate structure, fund raising and short and long term planning.
Derick began his accounting career at age 18 with a co-op program with PricewaterhouseCoopers before completing his Bachelor of Commerce (Honours) with the University of Windsor in 1982. He then joined KPMG Peat Marwick Thorne where he received his CA designation in 1985. Shortly after receiving his CA he joined BC Rail as a Treasury Analyst and worked as Manager, General Accounting and Director, Fleet Management before accepting the position as CFO of BC Rail’s start-up telecommunication subsidiary Westel. While at Westel he worked with the executive team to secure the sale of the telecommunications company twice in the volatile times of telecommunications deregulation. In 2008, he formed his own consulting business and provides senior financial services to development stage companies.
Chief Technical Officer
Mr. Woloschuk has owned and operated several companies over his 35-year business career including a start-up manufacturing and marketing company that within its first year developed a new product, designed the equipment to manufacturer it and achieve the highest sales of all Canadian companies at Expo 88 in Yokohama, Japan.
In 1989 Mr. Woloschuk purchased three Work World franchises and turned them into Mark’s Work Wearhouse franchise stores, each producing multimillion dollar annual sales. As owner, he worked directly with the franchisor management and corporate officer personnel, negotiated leases, recruited and trained managers and employees, oversaw legal and accounting requirements, produced annual and multi-year budgets and business plans. He set the positive atmosphere that resulted in highly motivated and happy employees. In the last five years of ownership, he oversaw the construction and relocation into three new buildings. In 2008, he sold them to the franchisor, Mark’s Work Wearhouse Ltd., a division of Canadian Tire Corporation.
Mr. Woloschuk was a member of three Chamber of Commerce organizations and served as a director. He continually subscribes to business, investing and personal development seminars and courses.