Avenue Financial Corp. today announced the appointment of Bay Street veteran Tony Millo to its board of directors.

Millo currently serves as vp finance of securities dealer Northern Securities Inc. dealer.

He served as senior examiner/manager and director of the Toronto Stock Exchange where he developed, introduced and administered an updated examination program for the TSX to ensure a more consistent and equitable application of industry rules for all members.

Over the past 25 years, Millo has held senior finance and compliance positions in several IDA Member firms including work in forensic accounting.

“We are pleased to have Tony joining the board of Avenue Financial Corp. Tony’s extensive Bay Street experience combined with his knowledge of control procedures and record keeping will add value and comfort as Avenue Financial executes its growth strategy delivering innovative new products and services to the financial community,” said Robin Ross, chairman & CEO of Avenue Financial.
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Avenue Financial also announced it has closed on a further 1,207,774 of its proposed offering of 20 million units being sold at 10¢ per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one common share at a price of 10¢ per share for a two year period. Avenue has now closed on 19,300,224 of the proposed 20 million units being offered for sale and is closing this financing off at this level.

Avenue Financial designs and develops innovative investment products for high net worth investors and select institutions.