TORONTO, April 15 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX: JFC) today announced that it has agreed in principle to enter into a lock-up agreement (the "Lock-Up") with Triple M Metal L.P. ("Triple M") to tender all of the shares owned by Jaguar of Royal Laser Corp. ("Royal Laser") (TSX: RLC) to Triple M's proposed all cash take-over bid offer of approximately $0.46 per share for Royal Laser (the "Offer"). In conjunction with the Offer, it is anticipated that an estimated additional $970,000 (approximately $0.01 per Royal Laser share) will also be distributed to Royal Laser shareholders. Jaguar expects the aggregate cash consideration to be paid to Royal Laser shareholders to be approximately $0.47 per Royal Laser share.
Jaguar is Royal Laser's largest shareholder owning 18,234,500 Royal Laser shares and expects to enter into definitive documentation with Triple M in connection with the Lock-Up by Friday April 16, 2010.
Please also refer to Royal Laser's press release dated April 15, 2010.
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: on this press release, please contact: Vic Alboini, Chairman & Chief Executive Officer, (416) 644-8110 - or - Kyler Wells, General Counsel & Corporate Secretary, (416) 644-8177