TORONTO, Dec. 1 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX: JFC) announced its acquisition yesterday of 1,083,000 common shares of Lakeside Steel Inc. ("Lakeside"; TSX-V: LS) representing approximately 1.6% of the total issued common shares of Lakeside. The Lakeside shares were acquired on the TSX Venture Exchange for investment purposes at an average price of $0.32 per share. Combined with the Lakeside common shares previously owned, Jaguar now owns a total of 17,065,590 common shares, representing approximately 28.1% of the total issued common shares of Lakeside.
Vic Alboini, the Chairman and Chief Executive Officer of Jaguar, owns or has control or direction over 6,320,930 common shares of Lakeside representing approximately 10.4% of the issued common shares of Lakeside. Together, Jaguar and Mr. Alboini own or have control or direction over 23,386,520 Lakeside shares representing approximately 38.5% of the total issued shares of Lakeside.
The common shares of Lakeside were acquired by Jaguar for investment purposes. Jaguar or Mr. Alboini may, directly or indirectly, depending on market and other conditions, acquire beneficial ownership of, control or direction over, additional common shares of Lakeside, through market transactions, private agreements or otherwise, in accordance with applicable securities legislation. Jaguar or Mr. Alboini may, depending on market and other conditions, sell any or all of their respective common shares of Lakeside.
About Jaguar Financial Corporation
Jaguar is a Canadian merchant bank that invests in undervalued small and mid-cap companies in a variety of industry sectors.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release. This news release may contain certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under Jaguar's control which may cause actual results, performances or achievements of Jaguar to be materially different from those implied by such forward looking statements.
SOURCE Jaguar Financial Corporation
For further information: For further information: Vic Alboini, Chairman & Chief Executive Officer, (416) 644-8110 - or - Kyler Wells, General Counsel & Corporate Secretary, (416) 644-8177