CALGARY, Aug. 28 /CNW/ - Aston Hill Financial Inc. (the "Company" or
"Aston Hill") (TSXV: AHF) announces it has filed the unaudited interim
consolidated financial statements for the period ended June 30, 2009 and
related Management Discussion and Analysis with Canadian Securities Regulatory
Aston Hill's net loss for the six months ending June 30, 2009 was $1.4
million. This included revenue of $1.5 million offset by a loss from investing
activities of $1.1 million and net operating expenses of $1.8 million.
Since the end of the first quarter, assets under management and advisory
have increased by 65% and currently stand at approximately $1.2 Billion. With
this recent rise in AUM, Aston Hill has surpassed its cash flow breakeven
point whereby recurring quarterly revenues from all funds managed now exceed
its quarterly cash expenses. These calculations do not factor in any
acquisitions or performance fees that may be earned or any investment activity
losses, or gains, that may occur during any quarter.
Aston Hill is an asset management company with expertise in the energy
sector, income products, oil and gas property management and private equity
and has offices in Calgary and Toronto.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
Forward-Looking Statements: This news release contains certain
"forward-looking statements" within the meaning of such statements under
applicable securities law. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect", "project",
"intend", "believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain events or
conditions "may" or "will" occur. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout this news
release. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
For a detailed description of the risks and uncertainties facing the
Company and its business and affairs, readers should refer to the Company's
annual financial statements and management discussion and analysis for the
year ended December 31, 2008, both of which are available at www.sedar.com.
The Company undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change, unless
required by law. The reader is cautioned not to place undue reliance on
For further information:
For further information: concerning this press release, please contact
Eric Tremblay, Chief Executive Officer, Aston Hill Financial Inc., (403)
770-4817; Ben Cheng, President, Aston Hill Financial Inc., (416) 861-9152;
Larry Titley, Vice President and CFO, Aston Hill Financial Inc., (403)