TORONTO, Nov. 13, 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 225,500 shares of Equity Financial Holdings Inc. (Equity), representing approximately 2.4% of the issued and outstanding shares
of Equity. Following such acquisitions, Smoothwater LP now holds an
aggregate of 1,102,200 shares, or 11.84% of the outstanding shares of
Equity. Smoothwater LP is now the largest shareholder of Equity based
on a review of public filings.
As previously disclosed in its press release dated November 11, 2013,
Smoothwater LP intends to initiate or participate in, alone or together
with joint actors, all actions it deems necessary or advisable to
enhance the value of its investment in Equity, and Mr. Kyprianou and
Mr. Ivan may be considered to be "joint actors" with Smoothwater LP as
a result of the entering into of support agreements. Smoothwater LP,
together with Mr. Kyprianou and Mr. Ivan, has ownership of 1,371,217
shares and securities convertible into shares of Equity, representing
approximately 14.74% 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.
Smoothwater Capital Corporation focuses on investing its own capital 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
120 Adelaide Street West
Attention: Stephen J. Griggs, Chief Executive Officer
Kingsdale Communications Inc.