Smoothwater Capital acquires additional 2.2% of the shares in Equity Financial Holdings Inc.

TORONTO, Dec. 30, 2013 /CNW/ - Smoothwater Capital Corporation (Smoothwater Capital) announced today that Smoothwater Capital Partners LP I (Smoothwater LP), a partnership controlled by Smoothwater Capital, has acquired an additional 202,700 shares of Equity Financial Holdings Inc. (Equity), representing approximately 2.17% of the issued and outstanding shares of Equity.  Following such acquisitions, Smoothwater LP now holds an aggregate of 1,304,900 shares, or 13.96% of the outstanding shares of Equity.  Smoothwater LP is the largest shareholder of Equity based on a review of public filings.

As previously disclosed in its press releases dated November 11 and 13, 2013, Smoothwater LP intends to initiate or participate, alone or together with joint actors, in all actions it deems necessary or advisable to enhance the value of its investment in Equity. As previously disclosed, Nick Kyprianou and Darryl Ivan may be considered to be "joint actors" with Smoothwater LP as a result of the entering into of support agreements with Smoothwater.  Smoothwater LP, together with Mr. Kyprianou and Mr. Ivan, has ownership of 1,566,017 shares representing approximately 16.76% of the issued and outstanding shares.

Smoothwater LP and its affiliates may acquire additional shares through open market purchases, private agreements or otherwise.

This news release is issued pursuant to the early warning requirements of applicable Canadian securities laws. Smoothwater LP will file early warning reports in accordance with applicable securities laws, copies of which will be available on SEDAR at www.sedar.com or upon request to Smoothwater LP.

About Smoothwater:

Smoothwater Capital Corporation focuses on investing in small to midcap Canadian public companies where there is an identifiable path to significantly improve shareholder value. Smoothwater works to effect change in targeted companies, often collaboratively with institutional and other like-minded investors who hold material positions but are not able to take on the time consuming and costly activist role.

SOURCE Smoothwater Capital Corporation

For further information:

For further information or to obtain a copy of an early warning report, please contact:

Smoothwater Capital Partners LP I
c/o Smoothwater Capital Corporation
Suite 2500
120 Adelaide Street West
Toronto, Ontario
M5H 1T1
Attention: Stephen J. Griggs, Chief Executive Officer
Telephone: 416.644.6582
Email: sgriggs@smoothwatercapital.com

Kingsdale Communications Inc.
Telephone: 416.644.4031
Email: contactus@kingsdalecommunications.com