TORONTO, May 25 /CNW/ - Further to the press release of January 21, 2009,
Jovian Capital Corporation ("Jovian") (TSX: JOV) and its subsidiary JovFunds
Management Inc. ("JovFunds") announce that JovFunds, Canadian Medical
Discoveries Fund Inc. ("CMDF") and GrowthWorks WV Management Ltd.
("GrowthWorks WV") have concluded the termination of the various CMDF related
management contracts to which JovFunds and its affiliates are parties (the
The termination of the CMDF Contracts was concluded as part of the merger
transaction whereby CMDF merged into the GrowthWorks Canadian Fund Ltd.
("Canadian Fund") effective as at the close of business on Friday, May 22,
JovFunds and its affiliates received various payments from CMDF and
GrowthWorks WV in the approximate aggregate amount of $5.5 million on closing,
and may also receive future payments based on the success of the Canadian
About JovFunds Management Inc. (www.jovfunds.com)
JovFunds provides innovative investment solutions for Canadians through
the creation, distribution and management of high quality investment products.
JovFunds manages and distributes approximately $2.5 billion in client assets
and is wholly owned by Jovian Capital Corporation.
About Jovian Capital Corporation (www.joviancapital.com)
Jovian acquires, creates and grows financial services companies
specializing in wealth and asset management. The Jovian group of companies
(AlphaPro Management Inc., BetaPro Management Inc., Horizons Funds Inc.,
JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon
Frazer & Associates Inc., MGI Financial Inc., MGI Securities Inc., MGI
Securities (USA) Inc., T.E. Wealth and Felcom Data Services Inc.) manages
approximately $12.0 billion of client assets ($6.0 billion in assets under
administration and $6.0 billion in assets under management). Additional
information is available at www.joviancapital.com and www.sedar.com.
For further information:
For further information: Steven Hawkins, Managing Partner, JovFunds
Management Inc., (416) 601-2442; or Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744