ANCASTER, ON, Feb. 1 /CNW/ - The Loyalist Insurance Group Limited (TSX
Venture Exchange symbol: LOY) (the "Corporation") announces that shareholder
and regulatory approval has been received to close on the Asset Purchase
Agreement dated December 12, 2007, being the sale of its insurance brokerage
operating assets, to 2158124 Ontario Inc., a wholly owned subsidiary of
Brownstone Holdings Inc., as earlier reported.
The Company's common shares will be transferred to the NEX Exchange which
is a separate board maintained by the TSXV for the listing of companies which
do not meet the minimum TSXV tier maintenance requirements. The Corporation
will remain on the NEX Exchange where the Common Shares will trade until the
Corporation acquires new assets or business, which would result in the
corporation once again meeting TSXV minimum listing requirements, or until the
Board of Directors of the Corporation adopts other plans for the Corporation.
The trading symbol for the Corporation will change from LOY to LOY.H effective
February 4, 2008.
The Loyalist Insurance Group Limited is a financial services holding
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein.
For further information:
For further information: Mr. Donald W. Coons, President, The Loyalist
Insurance Group Limited, Tel: (905) 648-6767