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Proven Executive Appointed to Oversee National Business Development and Sales Initiatives for Heritage Global’s Asset Valuation, Appraisal and Advisory Services Division

Scott Lazarus Promoted to Director of Heritage Global Valuations

May 31, 2017 10:04 AM Eastern Daylight Time

SAN DIEGO & NEW YORK & PHOENIX – (BUSINESS WIRE) – Heritage Global Valuations, Inc., (“HGV” or “the Division”) a worldwide leader in asset valuation, appraisal and advisory services and subsidiary of Heritage Global Inc., (OTCQB:HGBL)(CSE:HGP) (“HGI” or “the Company”) announced today the promotion of Michael Aho to the new position of National Sales Manager, responsible for overseeing all business development and sales initiatives across the United States for the division. HGV also announced that Scott Lazarus has been promoted to Director. Both appointments are effective immediately.

The promotions of Mr. Aho and Mr. Lazarus reflect Heritage’s expanding scale and strategy to appoint proven leaders in the asset liquidation, valuation and advisory services business to oversee the growth and development of its value-driven corporate and financial asset solutions platform, while enhancing its commitment to serve clients and customers.

In his new role as National Sales Manager, Michael Aho will work across the Heritage organization and with other corporate personnel to advance the Company’s national business development efforts and to identify asset valuation, advisory and auction opportunities for HGI’s various business divisions across the national footprint.

Mr. Aho brings to his new role at HGV nearly twenty years of experience providing asset valuation and advisory services to the commercial lending industry. Before joining HGV in 2014, he led the wholesale and industrial expansion of a nationally recognized asset appraisal and liquidation firm. Prior to that, he helped manage the development of a European asset valuation practice based in London, England and completed hundreds of asset valuations across a broad spectrum of industries. Mr. Aho began his career in the technology corporate finance group of Gerard Klauer Mattison & Co. and Adams Harkness and Hills, two leading boutique investment banks. Mr. Aho earned a B.B.A. in Finance with a minor in Resource Economics from the University of Massachusetts, Amherst. He is an active member of the Commercial Finance AssociationTurnaround Management Association and Association for Corporate Growth, as well as other financial associations.

Commenting on the promotion of Mr. Aho, Mike Goldstein, Managing Director of HGV stated, “Michael is an outstanding leader who has built a consistent track record of generating strong sales performance on behalf of leading asset-based lenders and financial institutions in North America and Europe. Importantly, he has a deep understanding of the Heritage organization and the dynamics of the asset valuation, advisory and auction business as well as a proven ability to forge strong client relationships. His valuable management and industry expertise will be important attributes in advancing our business development efforts and elevating HGV’s position as a worldwide leader in asset valuation, appraisal and advisory services.”

Chuck Seeley, Managing Director of HGV added, “Michael is widely regarded as a trusted business partner who is committed to the growth and economic success of our clients. Throughout his career, he has demonstrated a results-oriented and entrepreneurial approach to the asset valuation and advisory services business – including selling, managing, reviewing and completing hundreds of asset appraisals across the globe. With his many years of success and notable achievements, we have the highest degree of confidence in Michael’s ability to effectively lead HGV’s business development initiatives across our national footprint.”

Michael Aho stated, “Heritage Global has established a strong reputation of delivering innovative global asset solutions and exceptional client service to large corporations and small businesses worldwide. My role is to grow HGV’s North American client base and explore new ways to optimize our unique portfolio of value-driven corporate and financial asset solutions to bring our existing customers more opportunities to effectively appraise, market and monetize their assets. I look forward to working with Mike, Chuck and the exceptional teams at Heritage on these growth initiatives.”

In his new role as Director, Scott Lazarus will focus on the new business development efforts in the Rocky Mountain States region while continuing his role as HGV’s inventory appraiser. Mr. Lazarus joined Heritage in 2013 and brings to his new role at HGV nearly twenty years of experience in the asset valuation and advisory services industry. He has worked for a number of nationally recognized appraisal and asset liquidation firms throughout his career.

Mr. Lazarus earned a B.S. in Economics with a minor in Mathematics from the State University of New York at Albany as well as an M.S. in Management and Policy from the State University of New York at Stony Brook. He is an active member of the Turnaround Management Association and Association for Corporate Growth.

Commenting on the promotion of Mr. Lazarus, Chuck Seeley stated, “Scott’s promotion reflects the natural progression of his professional career, while also recognizing the meaningful accomplishments he has achieved at Heritage Global. His impressive industry background and record of success in the asset valuation and liquidation business make him the ideal candidate to support our business development initiatives in western North America.”

Mike Goldstein added, “Throughout his career with Heritage Global and beyond, Scott has consistently delivered positive results on behalf of our clients, while improving customer retention and identifying new business opportunities. We look forward to his contributions as we continue to build upon the long-term success of HGV.”

Michael Aho is based in New York, NY and may be reached at 617-470-4803 or via e-mail at
Scott Lazarus is based in Phoenix, AZ and may be reached at 631-379-9574 or via e-mail at

About Heritage Global Inc.
Heritage Global Inc. (OTCQB:HGBL)(CSE:HGP) is a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in twenty-eight global manufacturing and technology sectors. Heritage Global acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.

Forward-Looking Statements
This communication includes forward-looking statements based on our current expectations and projections about future events. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this communication are based on knowledge of the environment in which the Company currently operates and are subject to change based on various important factors, including variability in magnitude and timing of asset liquidation transactions, the impact of changes in the U.S. national and global economies, interest rate and foreign exchange rate sensitivity, as well as other factors beyond the Company’s control. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

Heritage Global Inc.
John Nesbett/Jennifer Belodeau
IMS Investor Relations