TORONTO, May 2 /CNW/ - Northern Financial Corporation ("Northern" or the
"Company") (TSX: NFC) announced the acquisition of 2,000,000 common
shares ("Common Shares") of Jaguar (TSX: JFC) on April 29, 2011.
Northern acquired 2,000,000 common shares of Jaguar, representing
approximately 1.9% of Jaguar's total issued shares. Prior to the
transaction, Northern owned 12,004,315 Common Shares representing
approximately 11.3% of the then issued and outstanding Common Shares.
Mr. Alboini, Chairman and Chief Executive Officer of Northern and
Jaguar, owns or has control or direction over 11,921,571 Common Shares
representing approximately 11% of the issued and outstanding Common
The Common Shares acquired, together with the Common Shares of Jaguar
owned or controlled by Mr. Alboini and Northern prior to the
transaction, resulted in Mr. Alboini and Northern owning or controlling
11,921,571 and 14,004,315 Common Shares of Jaguar, respectively,
representing approximately 11% and 12.9% of the currently issued and
outstanding Common Shares of Jaguar. In the aggregate, Mr. Alboini and
Northern own or control 25,925,886 Common Shares of Jaguar,
representing approximately 23.9%, of the issued and outstanding Common
Shares of Jaguar.
The common shares were issued to Northern pursuant to Jaguar's Equity
Incentive Plan, a copy of which is available in Jaguar's Management
Information Circular dated March 11, 2009. Mr. Alboini and Northern
may, directly or indirectly, depending on market and other conditions,
acquire beneficial ownership of, control or direction over, additional
Common Shares, through market transactions, private agreements or
otherwise. Mr. Alboini and Northern may, depending on market and other
conditions, sell any or all of their respective Common Shares.
About Northern Financial Corporation
Northern Financial Corporation wholly owns Northern Securities Inc., a
full service investment dealer that provides financial advisory
services to retail and institutional clients and investment banking
services to small capitalization companies.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
SOURCE Northern Financial Corporation
For further information:
Chairman and CEO