Jaguar requisitions shareholders' meeting of Tiomin Resources to vote on the proposed loan to Cadiscor and to replace Tiomin directors



    TORONTO, Feb. 13 /CNW/ - Jaguar Financial Corporation ("Jaguar" or the
"Company") (TSX: JFC) today announced that it has requisitioned a special
meeting of shareholders of Tiomin Resources Inc. ("Tiomin") (TSX: TIO)
pursuant to section 143 of the Canada Business Corporations Act. Jaguar is a
registered holder of not less than 5% of the issued and outstanding shares of
Tiomin. The purpose of the meeting is:

    
    i)    to consider a special resolution to approve the proposed business
          combination with Cadiscor Resources Inc. ("Cadiscor") (TSXV: CAO)
          as disclosed in the joint Tiomin-Cadiscor press release of
          February 10, 2009 (the "Proposed Business Combination");
    ii)   to allow Tiomin shareholders to vote on the proposed
          CDN$7.5 million loan (the "Proposed Loan") to Cadiscor;
    iii)  to replace all of the current directors of Tiomin with a slate of
          directors to be proposed by Jaguar; and
    iv)   to transact such other business as may properly come before the
          meeting.
    

    Jaguar believes that the Proposed Business Combination should be
presented to Tiomin shareholders for approval. While it appears that a Tiomin
shareholders vote is contemplated in the February 10, 2009 press release,
Jaguar has included the resolution as Tiomin has not yet confirmed that its
shareholders will have the opportunity to vote on the Proposed Business
Combination. Jaguar also believes that the Proposed Loan should be voted on by
Tiomin's shareholders prior to any amounts being advanced for a number of
reasons, including that the Proposed Loan is material in relation to both the
market capitalization of Tiomin (which was approximately $14.4 million on
February 9, 2009, the day prior to the announcement of the Proposed Loan) and
Tiomin's estimated cash (which is estimated to be approximately $15 million).
As the Proposed Loan is an integral part of the proposed combination with
Cadiscor, Jaguar believes that Tiomin shareholders must be provided with the
opportunity to vote on the Proposed Loan prior to any funds being advanced.
Jaguar intends to propose nominees for election to the Tiomin board of
directors at a later date.

    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: 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)
644-8177

Organization Profile

Jaguar Financial Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890