NORTHERN FINANCIAL ACQUIRES ADDITIONAL COMMON SHARES OF JAGUAR

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 Shares.

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:

Vic Alboini
Chairman and CEO
(416) 644-8110

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Northern Financial Corporation

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