TORONTO, June 8 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX:
JFC) announced its acquisition today of 80,500 common shares of Kinbauri Gold
Corp. ("Kinbauri"; TSX-V: KNB) representing approximately 0.14% of the total
issued common shares of Kinbauri. The Kinbauri shares were acquired on the TSX
Venture Exchange for investment purposes. Combined with the Kinbauri common
shares previously owned, Jaguar now owns a total of 5,925,500 common shares,
representing approximately 10% of the total issued common shares of Kinbauri.
Jaguar acquired the 80,500 common shares at an average cost of $0.601 per
Jaguar believes the common shares of Kinbauri are undervalued and wishes
to assist in the enhancement of shareholder value. Jaguar has commenced legal
proceedings against Kinbauri, its directors, and certain other parties in
connection with the proposed transaction between Kinbauri Espana S.L., a
wholly owned subsidiary of Kinbauri, and Glen Eagle Resources Inc. whereby
Glen Eagle would acquire up to 50% of Kinbauri Espana.
Orvana Minerals Corp. commenced an all cash take-over bid for all of the
issued and outstanding common shares of Kinbauri at a price of $0.55 per share
on May 25, 2009. Given the take-over bid by Orvana, Jaguar believes that
Kinbauri is clearly in play and Kinbauri should carry out an appropriate
fiduciary process to maximize shareholder value whether through Orvana or any
other potential bidder.
Jaguar may, depending on market and other conditions, acquire additional
common shares of Kinbauri, through market transactions, private agreement or
otherwise. Jaguar may, depending on market or other conditions, sell any or
all of its common shares.
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.
For further information:
For further information: For additional information on this press
release, please contact: Vic Alboini, Chairman & Chief Executive Officer,
(416) 644-8110; or Kyler Wells, General Counsel & Corporate Secretary, (416)