<SEC-DOCUMENT>0001062993-15-002476.txt : 20150507
<SEC-HEADER>0001062993-15-002476.hdr.sgml : 20150507
<ACCEPTANCE-DATETIME>20150507161643
ACCESSION NUMBER:		0001062993-15-002476
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150507
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150507
DATE AS OF CHANGE:		20150507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Heritage Global Inc.
		CENTRAL INDEX KEY:			0000849145
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEGRAPH & OTHER MESSAGE COMMUNICATIONS [4822]
		IRS NUMBER:				592291344
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17973
		FILM NUMBER:		15841972

	BUSINESS ADDRESS:	
		STREET 1:		1 TORONTO STREET,SUITE 700
		STREET 2:		P.O. BOX 3,
		CITY:			TORONTO,
		STATE:			A6
		ZIP:			M5C 2V6
		BUSINESS PHONE:		416-866-3005

	MAIL ADDRESS:	
		STREET 1:		1 TORONTO STREET,SUITE 700
		STREET 2:		P.O. BOX 3,
		CITY:			TORONTO,
		STATE:			A6
		ZIP:			M5C 2V6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Counsel RB Capital Inc.
		DATE OF NAME CHANGE:	20110121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C2 Global Technologies Inc
		DATE OF NAME CHANGE:	20050812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACCERIS COMMUNICATIONS INC
		DATE OF NAME CHANGE:	20040220
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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   <TITLE>Heritage Global Inc.: Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR><B>Washington, D.C.
20549 </B></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
<BR></B><B>THE SECURITIES AND EXCHANGE ACT OF 1934 </B></P>
<P align=center><B><u>May 7, 2015 </u></B><u><B>(May 5, 2015) </B></u><B><br>
</B>Date of report
  (Date of earliest event
reported) </P>
<P align=center><B><U><FONT size=5>HERITAGE GLOBAL INC.
</FONT></U><BR></B>(Exact Name of Registrant as Specified in its Charter) </P>
<P align=center><B><u>FLORIDA </u><BR>
</B>(State or Other Jurisdiction of
<BR>Incorporation or Organization) </P>
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  <TR vAlign=top>
    <TD align=center><u><B>0-17973 </B></u></TD>
  <TD align=center width="50%"><u><B>59-2291344 </B></u></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(Commission File No.) </TD>
  <TD align=center width="50%">(I.R.S. Employer Identification No.)  </TD></TR></TABLE>
<P align=center><B><u>12625 High Bluff Drive, Suite 305, San Diego, CA 92130</u><BR>
</B>(Address of Principal Executive Offices) </P>
<P align=center><B><u>(858) 847-0656</u><BR>
</B>(Registrants Telephone Number,
Including Area Code) </P>
<P align=center><B><u>1 Toronto Street, Suite 700, P.O. Box 3, Toronto, Ontario,
Canada, M5C 2V6 </u><BR>
</B>(Former Name or Former Address, if Changed Since Last
Report) </P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions: </P>
<P align=justify>[&nbsp;&nbsp;&nbsp;] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425) </P>
<P align=justify>[&nbsp;&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12) </P>
<P align=justify>[&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </P>
<P align=justify>[&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </P>
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  <TR vAlign=top>
    <TD align=left><B>Item 5.02</B> </TD>
    <TD align=left width="90%"><B>Departure of Directors or Certain Officers;
      Election of Directors;</B> <STRONG>Appointment of Certain
      Officers.</STRONG> </TD></TR></TABLE>
<P align=justify style="text-indent:5%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective as of May 5, 2015, Allan Silber, Chairman of the
Board, President and Chief Executive Officer of Heritage Global Inc. (&#147;HGI&#148; or
the &#147;Company&#148;), has resigned from the roles of President and Chief Executive
Officer. Mr. Silber&#146;s resignation was not for cause. Mr. Silber will continue as
Chairman of the Board and, as a non-employee director, will receive the standard
compensation provided to all non-employee directors, the terms and provisions of
which are described in further detail in the Company&#146;s Annual Report on Form
10-K, filed with the Securities and Exchange Commission on March 31, 2015. </P>
<P align=justify style="text-indent:5%">Effective as of May 5, 2015, Stephen Weintraub, Executive Vice
President, Chief Financial Officer and Corporate Secretary of HGI, has resigned
from the Company. Mr. Weintraub&#146;s resignation was not for cause. Mr. Weintraub
provided certain executive management services to the Company in accordance with
the terms and provisions of the Management Services Agreement, by and between
Counsel Corporation (&#147;Counsel&#148;) and HGI, dated May 1, 2014.</P>
<P align=justify style="text-indent:5%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective as of May 5, 2015, the individuals listed below
have assumed roles as executive officers of the Company: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=center >&#149; </TD>
    <TD align=left width="90%">Kirk Dove, 59, Managing Partner of the
      Company&#146;s wholly-owned subsidiary, Heritage Global Partners Inc. (&#147;HGP&#148;),
      will assume the roles of the Company&#146;s President and Chief Operating
      Officer. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=center >&#149; </TD>
    <TD align=left width="90%">Ross Dove, 62, Managing Partner of HGP, will
      assume the role of the Company&#146;s Chief Executive Officer, and Principal
      Executive Officer with respect to SEC filings. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=center >&#149; </TD>
    <TD align=left width="90%">Scott West, 46, Chief Financial Officer of HGP,
      will assume the role of the Company&#146;s Chief Financial Officer. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=center >&#149; </TD>
    <TD align=left width="90%">James Sklar, 49, Executive Vice President and
      General Counsel of HGP, will assume the role of the Company&#146;s Executive
      Vice President, General Counsel and Secretary. </TD></TR></TABLE>
<P align=justify style="text-indent:5%">There are no arrangements or understandings between the newly
appointed officers and any other persons pursuant to which any such person was
appointed as discussed above. Nor, with the exception of the fact that Kirk Dove
and Ross Dove are brothers, are there any family relationships between any
persons and any executive officers and directors. </P>
<P align=justify style="text-indent:5%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective as of May 5, 2015, Ross Dove and Morris Perlis,
Executive Vice Chairman of Counsel, have been appointed by the Board of
Directors of HGI as Class I Directors to fill existing vacancies. Subsequent to
these appointments, the Board of Directors consists of eight members. Neither
Mr. Dove nor Mr. Perlis have been appointed as a member of any of the Board
committees. There are no arrangements or understandings between Mr. Dove and Mr.
Perlis, and any other persons, pursuant to which they were selected to serve as
directors on the Company&#146;s Board. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify style="text-indent:5%">Mr. Perlis will receive the standard compensation provided to
all non-employee directors. </P>
<P align=justify style="text-indent:5%">The biographical and background information of the executive
officers and directors is as follows:</P>
<P align=justify style="text-indent:5%"><B><I>Allan Silber</I></B>. Mr. Silber was elected to the Board
as a Class II director in September 2001. He was appointed as Chairman of the
Board in November 2001, a position he held until October 2004, and was again
appointed as Chairman of the Board in March 2005. On January 19, 2011, Mr.
Silber resigned the position of Chief Executive Officer and assumed the position
of President. Mr. Silber is the Chairman and CEO of Counsel, which he founded in
1979. Mr. Silber attended McMaster University and received a Bachelor of Science
degree from the University of Toronto.<I> </I></P>
<P align=justify style="text-indent:5%"><B><I>Kirk Dove</I></B><B>.</B> Together with his brother, Ross
Dove, Mr. Dove joined the Company when HGI acquired HGP in February 2012. Mr.
Dove began his career in the auction business over twenty-five years ago,
including, along with his brother, the position of global president of DoveBid,
which was sold to a third party in 2008. The Messrs. Dove remained as global
presidents of the business until September 2009, and then formed HGP in October
2009. In addition to his experience with the auction business, Mr. Dove was
employed at Merrill Lynch for several years as a Senior Account Executive. Mr.
Dove holds a Bachelor of Sciences degree in Business from Northern Illinois
University. He is a Senior ASA Member of the American Society of Appraisers, and
has been a member of the National Auctioneers Associations since 1985. </P>
<P align=justify style="text-indent:5%"><B><I>Ross Dove</I></B><B>.</B> Together with his brother, Kirk
Dove, Mr. Dove joined the Company when HGI acquired HGP in February 2012. Mr.
Dove began his career in the auction business over thirty years ago, beginning
with a small family-owned auction house and helping to expand it into a global
firm, DoveBid, which was sold to a third party in 2008. The Messrs. Dove
remained as global presidents of the business until September 2009, and then
formed HGP in October 2009. During his career, Mr. Dove has been actively
involved in auction industry advances such as theatre-style auctions, which was
a first step in migrating auction events onto the Internet. Mr. Dove has been a
member of the National Auctioneers Associations since 1985, and a founding
member of the International Auctioneers Association. He served as a director of
Critical Path from January 2002 to January 2005 and has served on the boards of
several venture funded companies. </P>
<P align=justify style="text-indent:5%"><B><I>Scott West</I></B><B>.</B> Mr. West joined HGP in March
2014, and has approximately 25 years of multi-national executive finance and
business management experience. He began his career as an auditor for Ernst
&amp; Young, and also spent several years working on the due diligence,
valuation and disposition of non-performing loans and foreclosed real estate
assets of failed savings and loan institutions. Subsequently he was responsible
for the finance function of various public and private equity funded companies,
including Fortune 500 companies. He has expertise managing financial, technical,
merger and acquisitions, and international accounting teams, and has deep
knowledge of SEC financial reporting, Sarbanes Oxley compliance and
international accounting matters. Mr. West holds a Bachelor of Science degree in
Accounting from Arizona State University, and has been a Certified Public
Accountant since 1993. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify style="text-indent:5%"><B><I>James Sklar</I></B><B>.</B> Mr. Sklar joined HGP in June
2013, and has over two decades of relevant legal experience serving leading
worldwide asset advisory and auction services firms. Mr. Sklar began his career
practicing law at Jaffe Raitt Heuer and Weiss in Detroit, MI, subsequently
became a partner at Zussman and Sklar in Birmingham, MI, and also served as
outside and then general counsel for Norman Levy Associates, Inc. Prior to
joining HGP, Mr. Sklar spent 12 years with GoIndustry-DoveBid, where he provided
legal representation for the company&#146;s operations in North America, Europe, Asia
and Latin America, playing a key role in establishing relationships with global
alliance partners and implementing international contract processes, as well as
handling business transactions and other legal matters. Mr. Sklar holds a juris
doctorate degree with cum laude honors from Wayne State University Law School
and a Bachelor of Science in Economics from the Wharton School of the University
of Pennsylvania. </P>
<P align=justify style="text-indent:5%"><B><I>Morris Perlis.</I></B> Mr. Perlis, Executive Vice
Chairman of Counsel since July 2009, has extensive experience in senior
strategic and management roles, including prior service as Counsel&#146;s President
from 1992 until 2001. He is President of Morris Perlis &amp; Associates, which
he established in 1992. Mr. Perlis also spent 13 years with American Express,
including terms as President of American Express Canada and Executive Vice
President, and four years as President and CEO of Mad Catz Interactive, a
leading manufacturer of quality gaming accessories. Mr. Perlis has an M.B.A.
from York University and a Bachelor of Economics and History from Concordia
University. He is active on a number of private and not-for-profit boards. </P>
<P align=justify style="text-indent:5%">The only transaction involving the Company and the above
officers and directors, which transaction is reportable pursuant to Item 404 of
Regulation S-K promulgated under the Securities Act of 1933, as amended, is with
respect to premises which the Company leases from the Messrs. Dove for use in
its operations. These premises are located in Foster City, CA, and the lease
amounts paid to the Messrs. Dove total approximately $228,000 per year. </P>
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  <TR vAlign=top>
    <TD align=left><B>Item 9.01</B> </TD>
    <TD align=left width="90%"><B>Financial Statements and Exhibits.</B>
  </TD></TR></TABLE>
<P style="MARGIN-LEFT: 0%" align=justify><I>(d) </I><I><U>Exhibits</U></I><B>
</B></P>
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  <TR vAlign=top>
    <TD noWrap align=left><B><U>No.</U></B> </TD>
    <TD noWrap align=left width="90%"><B><U>Exhibit</U></B> </TD></TR>
  <TR>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left width="90%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD noWrap align=left width="90%" bgColor=#eeeeee><a href="exhibit99-1.htm">Press Release dated May
      6, 2015</a> </TD></TR></TABLE><BR>
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<P align=center><B>SIGNATURES</B> </P>
<P align=justify style="text-indent:5%">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized. </P>
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  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Heritage Global Inc. </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Date: May 7, 2015 </TD>
    <TD align=left width="50%">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <U>/s/ James
      Sklar</U></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:James Sklar </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Executive Vice
      President, </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left
      width="50%">&nbsp; &nbsp; &nbsp;
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Counsel and Secretary </TD></TR></TABLE>
<BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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   <TITLE>Heritage Global Inc.: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
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<P align=right><B>Exhibit 99.1</B><B> </B></P>
<P align=center>
<IMG src="exhibit99-1x1x1.jpg" border=0 width="309" height="103"> </P>
<P align=center><B>HERITAGE GLOBAL INC. APPOINTS PROVEN AUCTION INDUSTRY
VETERANS <BR>ROSS DOVE TO ROLE OF CHIEF EXECUTIVE OFFICER AND KIRK DOVE
<BR></B><B>TO ROLE OF PRESIDENT AND CHIEF OPERATING OFFICER </B></P>
<P align=center><B>- Scott West to Serve as Chief Financial Officer - </B></P>
<P align=center><B>- James Sklar Named Executive Vice President, General Counsel
and Secretary - </B></P>
<P align=center><B>- Ross Dove and Morris Perlis Appointed
Class I Directors - </B></P>
<P align=justify>SAN DIEGO, California, and TORONTO, Canada (May 06, 2015) &#150;
Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (&#147;HGI&#148;, the &#147;Company&#148;), a leader in
asset liquidation transactions, valuations and advisory services, today
announced that its Board of Directors has appointed new members to the Company&#146;s
executive management team effective immediately.</P>
<P align=justify><B>Ross Dove Appointed Chief Executive Officer <BR></B>The
Board of Directors has appointed Ross Dove Chief Executive Officer of the
Company, succeeding Allan Silber. Mr. Silber will continue in his role as
Chairman of the Board and will continue to provide strategic counsel to Heritage
Global. </P>
<P align=justify>Ross Dove previously served as Managing Partner of Heritage
Global Partners (&#147;HGP&#148;), a global leader in asset advisory and auction services
and a subsidiary of Heritage Global Inc. </P>
<P align=justify>Ross Dove has over thirty years of auction industry experience.
Starting out at a small family auction house in San Francisco with his father
and grandfather, Ross Dove became an industry pioneer and innovator, responsible
for countless advancements and industrial auctioneering firsts. Before
co-founding Heritage Global Partners with his brother Kirk Dove, he helped build
a leading auction company into one of the largest and most respected global
industrial asset and commercial property auctioneers today. His success has been
widely chronicled in major publications, including Fortune, Forbes, the Wall
Street Journal, Business Week, and the Economist, among others.</P>
<P align=justify>Commenting on the appointment, Allan Silber, Chairman of the
Board of Heritage Global Inc. stated, &#147;With Ross and Kirk&#146;s appointments and the
other executive management changes announced today, the Board of Directors is
positioning Heritage Global Inc. for its next phase of innovation and growth.
</P>
<P align=justify>&#147;Ross brings to his new position a deep understanding of the
Company and its asset liquidation, advisory and investment banking businesses.
As Managing Partner, he opportunistically expanded our worldwide footprint,
formed strategic partnerships, generated consistent top-line revenue growth, and
created further value for our corporate clients, customers and investors. Ross
is a proven leader with an industry-wide reputation of delivering exceptional
service and innovative capital asset solutions to global clientele including
regional and multinational corporations. We look forward to the benefit of his
knowledge, experience and relationships as HGI continues to pursue its goals for
near- and long-term growth. The Board and I will remain actively engaged with
the leadership team to drive the Company&#146;s future success throughout this
transition.&#148; </P>
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<P align=justify>Commenting on his new role, Ross Dove stated, &#147;We are
encouraged by the progress we have made over the past several years towards
building Heritage Global Inc. into a leading provider of capital asset
solutions. In this new role, I will leverage the management experience and deep
industry relationships built over my career to generate results and further
strengthen Heritage&#146;s position as a leading provider of principal and syndicated
surplus capital asset transactions, long-term forward flow contracts, and asset
advisory and turnkey auction services. We remain confident about the prospects
for future success and committed to our goal of enhancing long-term shareholder
value as we move through 2015 and beyond.</P>
<P align=justify>&#147;I would like to sincerely thank Allan for his outstanding
service throughout his term as CEO of Heritage Global Inc. I look forward to
working with him in his ongoing capacity as HGI&#146;s Chairman of the Board. I would
also like to thank Stephen Weintraub for his contributions as CFO of HGI.&#148; </P>
<P align=justify><B>Kirk Dove Appointed</B> <B>President</B> <B>and Chief
Operating Officer <BR></B>The Board of Directors has appointed Kirk Dove
President and Chief Operating Officer of the Company. Kirk Dove is co-founder of
Heritage Global Partners and previously served as HGP&#146;s Managing Partner. Kirk
Dove brings over 30 years of experience to his new role. Kirk and his brother
Ross have managed more than 4,000 industrial auctions in 30 countries throughout
their respective careers. Kirk has been instrumental in further expanding and
diversifying HGP&#146;s suite of asset liquidation, valuation and advisory services
as well as forging exclusive alliances and strategic partnerships with other
auctioneering firms.</P>
<P align=justify>In his new role, Kirk will work with other corporate personnel
to develop, execute, and monitor operating strategies aimed at achieving
corporate and global business objectives and financial goals. He will have
direct oversight of HGI&#146;s worldwide base of sales directors and account
executives as well as marketing and support/services personnel and will be
responsible for managing global partner and alliance operations. In addition, he
will work across HGI&#146;s various business units to administer policies and
procedures to improve operating efficiencies and the effectiveness and service
of the Company&#146;s operations.</P>
<P align=justify><B>Scott West Appointed Chief Financial Officer <BR></B>The
Board of Directors has appointed Scott West as the new Chief Financial Officer
of the Company, succeeding Stephen Weintraub. Mr. West previously served as
Chief Financial Officer of HGP. </P>
<P align=justify>Mr. West has 25 years of multi-national executive financial
accounting and business management experience serving various public and private
equity funded companies, including Fortune 500 companies. He has expertise
managing financial, technical, M&amp;A, and international accounting teams and
has deep knowledge of SEC financial reporting, SOX compliance and international
accounting matters. </P>
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<P align=justify>In his new role, Mr. West will be responsible for all of the
Company&#146;s financial and treasury functions including financial reporting, bank
relationships, conducting internal and industry analysis to support the
Company&#146;s goals for growth, investor relations, and M&amp;A activity. </P>
<P align=justify><B>James Sklar Appointed Executive Vice President, General
Counsel and Secretary <BR></B>The Board of Directors has appointed James Sklar
as the Executive Vice President, General Counsel and Secretary of the Company.
Mr. Sklar previously served as Executive Vice President, General Counsel of HGP.
</P>
<P align=justify>Mr. Sklar has over two decades of relevant legal experience
serving leading worldwide asset advisory and auction services firms. Throughout
his career, he has played a key role in establishing relationships with global
alliance partners and implementing international contracts as well as expanding
the adoption of the auction sale process in North America, Europe, Asia and
Latin America.</P>
<P align=justify>In his new role, Mr. Sklar will be responsible for all of the
Company&#146;s legal matters including negotiating global transactional and business
alliance documents, managing relationships and contracts with worldwide clients
and business partners, and providing legal representation for Heritage Global
Partners, Heritage Global Partners Europe, Heritage Global Valuations, Heritage
Equity Partners and Heritage National Loan Exchange. </P>
<P align=justify><B>Class I Board of Director Appointments <BR></B>In addition,
the Board of Directors appointed Ross Dove and Morris Perlis, to serve as Class
I Directors on the Board of Heritage Global Inc. </P>
<P align=justify><B>About Heritage Global Inc.
(</B><B><U>www.heritageglobalinc.com</U></B><B>) </B></P>
<P align=justify>Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is a value-driven,
innovative leader in asset liquidation transactions, valuations and advisory.
The Company focuses on identifying, valuing, acquiring and monetizing surplus
and distressed capital assets in 25 global manufacturing and technology sectors.
It specializes in both acting as an advisor as well as acquiring turnkey
manufacturing facilities, surplus industrial machinery and equipment, industrial
inventories, accounts receivable portfolios and related intellectual property.
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A>
<P align=justify><B>Forward-Looking Statements </B></P>
<P align=justify>The statements made in this release that are not historical
facts contain forward-looking information that involves risks and uncertainties.
All statements, other than statements of historical facts, which address the
Company's expectations, should be considered as forward-looking statements. Such
statements are based on knowledge of the environment in which the Company
currently operates, but because of the factors listed herein, as well as other
factors beyond the Company's control, actual results may differ materially from
the expectations expressed in the forward-looking statements. Important factors
that may cause actual results to differ from anticipated results include, but
are not limited to, obtaining necessary approvals and other risks detailed from
time to time in the Company's securities and other regulatory filings. </P>
<P align=justify><B>Contact:</B></P>
<P align=justify>Scott West <BR>Chief Financial Officer <BR>Heritage Global Inc.
<BR>858/847-0656 </P>
<P align=justify>Jennifer Neuman, Joseph Jaffoni
<BR><U>JCIR<BR></U><U>HGBL@jcir.com</U> or 212/835-8500 </P>
<HR align=center width="100%" color=black noShade SIZE=5>
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