Caldwell Acquires The Counsel Network

– Addition of leading lawyer recruitment firm in Canada greatly expands  geographic and functional capability creating  industry-redefining legal search practice  –

Toronto – October 3, 2022 – Retained executive search firm Caldwell (TSX: CWL; OTCQX: CWLPF) today announced the acquisition of 100% of the shares of The Counsel Network Inc. (“The Counsel Network“), a Canada-based executive search firm specializing in the Canadian legal market. The acquisition of The Counsel Network was an all-cash deal, and no securities of Caldwell were issued in connection with the acquisition.

Founded in 1988, The Counsel Network specializes in providing comprehensive, long-term talent management solutions to the Canadian legal market. The team is led by Dal Bhathal (Toronto) and Sameera Sereda (Calgary), who have advised the profession through economic cycles and unprecedented changes in the industry over the last 25 years. Passionate about achieving the best results for clients and candidates, the team believes every client deserves more than a transactional experience with their recruiter.

“The Counsel Network is the most respected, connected and powerful legal recruitment firm in Canada,” said Michael DeCosta, managing partner of Caldwell’s Professional Services Practice. “This combination brings together two strong executive search brands with exceptional reputations borne of a true passion for achieving the best results for clients and candidates. Lawyer recruitment is a burgeoning sector of the professional services talent acquisition space and Dal, Sameera and their teams are clearly the outright leaders in this space. We are delighted to have them joining our practice and expanding our ability to serve our clients.”

“We have always been passionate about delivering the best experience to our clients, and we see that same passion reflected in Caldwell’s entire team,” said Dal Bhathal and Sameera Sereda, managing partners of The Counsel Network. “To find a firm whose drive to build long-term client relationships that provide added value, expert counsel and a collaborative team-based approach really matches our own is immensely gratifying. We are truly excited to be joining Caldwell and look forward to the expanded reach and functional expertise that we will now be able to offer our clients.”

Ms. Bhathal provides strategic advice and guidance to Canadian and international law firms and legal departments on all aspects of legal talent management. A former practicing lawyer and recognized leader in her field, she leverages over 25 years’ experience building exceptional legal teams for law firms and corporations, and provides immeasurable expertise, sophisticated analyses, and robust knowledge to clients and candidates. Ms. Bhathal’s recruitment experience spans all major business centers in Canada, from Halifax to Vancouver, and she leverages an impressive legal and business network spanning the breadth and width of the national market.

Passionate about building diversity, inclusion, and equity in the legal profession, Ms. Bhathal serves as co-chair of the Ontario Committee for the Women in Law Leadership (WILL) Awards, which celebrates the advance and achievements of women lawyers. She previously served as a board member of the South Asian Bar Association (SABA) Toronto and continues to be involved with various equity seeking – bar associations, including SABA Toronto, the Federation of Asian Canadian Lawyers, and the Canadian Association of Black Lawyers. She is also a qualified diversity trainer and administrator of the Intercultural Development Inventory.

Ms. Bhathal holds a Bachelor of Laws (LL.B.) from the University of West London and was admitted to the Law Society of England and Wales.

Ms. Sereda provides creative and innovative talent management solutions to law firms and legal departments while focusing on building strong long-term relationships with both clients and candidates. A former practicing lawyer and highly sought-after speaker, author, and strategic advisor, her charismatic style and commitment to a strong ethical framework contribute to her status as a trusted advisor and mentor.

Deeply committed to building a diverse and inclusive legal profession, Ms. Sereda has dedicated much of her career to nurturing and promoting women lawyers. She is the chair of Women in Law Leadership, a Canada Not-for-Profit Corporation dedicated to the celebration, education, and advancement of women lawyers, and the co-founder of the WILL Awards. She is passionate about giving back to the community as evidenced by her many years of volunteering with the Canadian Bar Association, the Alberta Lawyers’ Assistance Society, the Association of Women Lawyers, and the Federal Judicial Advisory Committee for Alberta.

Ms. Sereda holds a Bachelor of Arts from McGill University, a Public Relations Diploma from Mount Royal University, a Bachelor of Laws from the University of Calgary and was called to the Law Society of Alberta. She has taught various courses in business law, business communications, and effective writing, and has facilitated numerous workshops in the areas of media training, strategic planning, and marketing. Ms. Sereda is a qualified diversity trainer and administrator of the Intercultural Development Inventory, as well as certified to deliver conflict resolution training.

“Adding high-caliber partners is always a win, and with this acquisition we are welcoming two new partners whose values, commitment to inclusion and priority on client satisfaction aligns with ours,” said Chris Beck, president. “Dal, Sameera and their teams have demonstrated absolute authority in their space, making this a significant geographic and functional expansion of our legal practice and capabilities, and we are thrilled to welcome them to the Caldwell team.”

About Caldwell

Caldwell is a leading retained executive search firm connecting clients with transformational talent. Together with IQTalent, we are a technology-powered talent acquisition firm specializing in recruitment at all levels. Through the two distinct brands – Caldwell and IQTalent – the firm leverages the latest innovations in AI to offer an integrated spectrum of services delivered by teams with deep knowledge in their respective areas. Services include candidate research and sourcing through to full recruitment at the professional, executive and board levels, as well as a suite of talent strategy and assessment tools that can help clients hire the right people, then manage and inspire them to achieve maximum business results.

Caldwell’s common shares are listed on The Toronto Stock Exchange (TSX: CWL) and trade on the OTCQX Market (OTCQX: CWLPF). Please visit our website at for further information.

Forward-Looking Statements

Forward-looking statements in this document are based on current expectations subject to the significant risks and uncertainties cited. These forward-looking statements generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “may,” “will,” “likely,” “estimates,” “potential,” “continue” or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements.

We are subject to many factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statement including, but not limited to, the impact of pandemic diseases, our ability to attract and retain key personnel; exposure to our partners taking our clients with them to another firm; the performance of the US, Canadian and international economies; foreign currency exchange rate fluctuations; competition from other companies directly or indirectly engaged in talent acquisition; cybersecurity requirements, vulnerabilities, threats and attacks; damage to our brand reputation; our ability to align our cost structure to changes in our revenue; liability risk in the services we perform; potential legal liability from clients, employees and candidates for employment; reliance on software that we license from third parties; reliance on third-party contractors for talent acquisition support; our ability to successfully recover from a disaster or other business continuity issues; adverse governmental and tax law rulings; successfully integrating or realizing the expected benefits from our acquisitions, adverse operating issues from acquired businesses; volatility of the market price and volume of our common shares; technological advances may significantly disrupt the labour market and weaken demand for human capital at a rapid rate; affiliation agreements may fail to renew or affiliates may be acquired; the impact on profitability from marketable securities valuation fluctuations; increasing dependence on third parties for the execution of critical functions; our ability to generate sufficient cash flow from operations to support our growth and fund any dividends; potential impairment of our acquired goodwill and intangible assets; and disruption as a result of actions of certain stockholders or potential acquirers of the Company. For more information on the factors that could affect the outcome of forward-looking statements, refer to the “Risk Factors” section of our Annual Information Form and other public filings (copies of which may be obtained at These factors should be considered carefully, and the reader should not place undue reliance on forward-looking statements. Although any forward-looking statements are based on what management currently believes to be reasonable assumptions, we cannot assure readers that actual results, performance, or achievements will be consistent with these forward-looking statements. Management’s assumptions may prove to be incorrect. Except as required by Canadian securities laws, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. The forward-looking statements included herein are expressly qualified in their entirety by this cautionary language.

For further information, please contact:

Chris Beck, President and Chief Financial Officer
+1 (617) 934-1843

Caroline Lomot, Director of Marketing
+1 (516) 830-3535

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