Jaguar appeals TSX decision on proposed HudBay - Lundin transaction



    TORONTO, Jan. 8 /CNW/ - Jaguar Financial Corporation ("Jaguar" or the
"Company") (TSX: JFC) today announced that it has appealed the Toronto Stock
Exchange's decision to give conditional approval to the proposed arrangement
between HudBay Minerals Inc. ("HudBay") and Lundin Mining Corporation
("Lundin").
    Jaguar filed a Request for Hearing and Review with the Ontario Securities
Commission (the "OSC") and has asked the OSC for orders i) setting aside the
TSX decision, ii) requiring HudBay to call and hold a meeting of its
shareholders in order to obtain their approval of the proposed arrangement
with Lundin, and ii) prohibiting HudBay from closing the proposed arrangement
with Lundin until such meeting is held and HudBay shareholders have approved
the transaction.
    The parties are in the process of establishing a schedule for the
hearing.

    About Jaguar

    Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization 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 press release may contain
forward-looking statements with respect to the Company, its operations,
strategy, financial performance and condition. These statements generally can
be identified by use of forward looking words such as "may", "will", "expect",
"estimate", "anticipate", intends", "believe" or "continue" or the negative
thereof or similar variations. The actual results and performance of the
Company discussed herein could differ materially from those expressed or
implied by such statements. Such statements are qualified in their entirety by
the inherent risks and uncertainties surrounding future expectations.
Important factors that could cause actual results to differ materially from
expectations include, among other things, general economic and market factors,
and competition. The cautionary statements qualify all forward-looking
statements attributable to the Company and persons acting on their behalf.
Unless otherwise stated, all forward-looking statements speak only as of the
date of this press release and the Company has no obligation to update such
statements.





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

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Jaguar Financial Corporation

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