TORONTO, March 30 /CNW/ - (TSX: KFS) (NYSE: KFS) Kingsway Financial
Services Inc. ("Kingsway" or the "Company") today announced another in
a series of strategic actions intended to position the Company to
rebuild shareholder value over the long term. The Company closed today
on the sale of its wholly owned subsidiary Hamilton Risk Management
Company and its subsidiaries, including Kingsway Amigo Insurance
Company, to Acadia Acquisition Partners, L.P. Kingsway will act as the
general partner and hold a limited partnership investment.
Sherman & Company Holdings, formerly known as LMC Capital LLC, provided
a fairness opinion to Kingsway's Board of Directors in connection with
the transaction and Updike, Kelly & Spellacy, P.C. acted as legal
counsel to Kingsway.
Forward Looking Statements
This press release includes "forward looking statements" that are
subject to risks and uncertainties. Such forward looking statements
relate to future events or performance, but reflect Kingsway
management's current beliefs, based on information currently
available. A number of factors could cause actual events, performance
or results to differ materially from the events, performance and
results discussed in the forward looking statements. For information
identifying important factors that could cause actual results to differ
materially from those anticipated in the forward looking statements,
see Kingsway's securities filings, including its 2009 Annual Report
under the heading Risk Factors in the Management's Discussion and
Analysis section. The securities filings can be accessed on the
Canadian Securities Administrators' website at www.sedar.com, on the EDGAR section of the U.S. Securities and Exchange Commission's
website at www.sec.gov or through the Company's website at www.kingsway-financial.com. Except as expressly required by applicable securities law, the Company
disclaims any intention or obligation to update or revise any forward
looking statements whether as a result of new information, future
events or otherwise.
About the Company
Kingsway Financial Services Inc. focuses on non-standard automobile
insurance in the United States of America. The Company's primary
businesses are the insuring of automobile risks for drivers who do not
meet the criteria for coverage by standard automobile insurers. The
common shares of the Company are listed on the Toronto Stock Exchange
and the New York Stock Exchange, under the trading symbol "KFS".
SOURCE Kingsway Financial Services Inc.
For further information:
Investor Relations 416-848-1171