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CALGARY, Aug. 14 /CNW/ - Aston Hill Financial Inc. (the "Company" or
"Aston Hill") (TSXV: AHF) announces that it has completed the previously
announced "best efforts" brokered private placement, issuing 5,117,301 units
("Units") at a purchase price of $0.30 per Unit for gross proceeds of
$1,535,190.30 (the "Offering") pursuant to an agency agreement between the
Corporation and Cormark Securities Inc. (the "Agent"). Each Unit consists of
one common share ("Common Share") and one-half of a Common Share purchase
warrant (each whole warrant is referred to as a "Warrant"). Each Warrant
entitles the holder thereof to purchase one additional Common Share at a price
of $0.45 per Common Share until February 14, 2011.
As consideration for acting as agent, the Agent received a commission of
6% of the gross proceeds from the Offering. In addition, the Agent was issued
307,038 broker warrants, each entitling the Agent to acquire one Common Share
of the Company at an exercise price of $0.30 per Common Share for 18 months
from the date of closing.
All securities issued pursuant to the Private Placement bear a four month
hold period expiring on December 15, 2009 except as permitted by applicable
Canadian securities laws and the TSX Venture Exchange.
Aston Hill's Chief Executive Officer, Eric Tremblay along with other
insiders and management have subscribed for a significant portion of the
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.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
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 audited financial statements and management discussion and analysis for
the period ended March 31, 2009, 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; Larry Titley, Vice President and CFO, Aston Hill Financial Inc.,