TORONTO, April 20 /CNW/ - Jovian Capital Corporation ("Jovian")
(JVN: TSX-V) is pleased to announce that its wholly-owned subsidiary JovFunds
Management Inc. ("JovFunds Management") has completed a $2.35 million USD
investment in Tailwind Financial Inc. ("Tailwind"), a special purpose
acquisition company formed in the U.S. to acquire one or more businesses in
the financial services industry. Tailwind is listed on the AMEX under the
symbol TNF.U. More information on Tailwind can be found at www.tailwindfc.com.
JovFunds Management's investment in Tailwind is via the purchase of
4.7 million common share purchase warrants at $1 USD each by Parkwood Holdings
Ltd. ("Parkwood"), a Canadian company that is 50% owned by JovFunds
Management. These warrants have the same terms as those sold under the
prospectus, including an exercise price of $6 USD each per warrant. Parkwood
also holds approximately 3.5 million common shares of Tailwind, issued for
nominal value. Gordon McMillan, Tailwind's Chairman, and Andrew McKay,
Tailwind's C.E.O., own the remaining 50% of Parkwood.
About JovFunds Management Inc.
JovFunds Management provides investment solutions for Canadian investors
through the creation, management and distribution of high quality investment
products. As a member of the Jovian group of companies, JovFunds Management
oversees the management and distribution of a diverse range of investment
products and currently has over $1 billion in client assets.
About Jovian Capital Corporation
Jovian is a publicly-traded company listed on the TSX Venture Exchange
(JVN). Jovian is a management and holding company with interests in a variety
of financial service firms specializing in wealth(*) and asset(xx) management.
The Jovian group of companies operates as a national financial services
organization with approximately $13.5 billion of client assets ($4.9 billion
in assets under management and $8.6 billion in assets under administration).
(*)Wealth management entities include Convoy Capital Corporation, JovFunds
Inc., MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group
Inc. (xx)Asset management entities include Accumulus Management Ltd., BetaPro
Management Inc., Charterhouse PSI Management Corporation, DOCP Management
Corp., Horizons Funds Inc., Jove Investment Management Inc., JovFunds
Management Inc., Jovian Asset Management Inc., Leon Frazer & Associates Inc.,
Pescara Partners Inc., Taliesin Capital Inc., T.E. Wealth. Financial corporate
service entities include Felcom Data Services Inc. and Services Felcom Data
(Quebec) Inc./Felcom Data Services (Quebec) Inc.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Additional information relating to Jovian is available at www.sedar.com
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; Philip Armstrong, President & Chief
Executive Officer, Jovian Capital Corporation, (416) 933-5752