TORONTO, Jan. 9, 2012 /CNW/ - Investment fund manager Global Growth
Assets Inc. ("Global"), a subsidiary of the Global group of companies,
is pleased to announce that it has today entered into an agreement to
acquire the assets of MineralFields Group and its affiliated companies
Pathway Asset Management and EnergyFields Group ("MineralFields"). The
agreement is subject to regulatory approval.
MineralFields is well-known in the Canadian marketplace for its
tax-advantaged flow-through shares in the mining and oil and gas
sectors through Flow-Through Limited Partnerships.
Global is a leading Canadian independent financial services company that
identifies and aligns itself with tax-advantaged and tax-efficient
financial products for Canadians. Mr. Sam Bouji, Chairman and CEO of
Global, commented on the acquisition as continuing Global's growth plan
in the industry: "we've made a number of acquisitions in the past;
however, the MineralFields acquisition is a key strategy and will
position Global for future growth. Global will continue its strategy of
identifying and aligning itself with acquisitions into the future."
Mr. Joe C. Dwek, co-owner of MineralFields referred to the acquisition
as the right opportunity for Global to pursue its strategic plans in
both the resource sector and the tax-advantaged product space.
The current business model for MineralFields will be maintained under
Global and the new trade names will include the Global name, that is -
Global MineralFields Group, Global Pathway Asset Management, and Global
EnergyFields Group. Global's corporate strategy includes organic and
acquisitive growth in both product and distribution.
About Global group of companies:
Global is a dynamic independent financial services firm focused on
providing Canadians with financial solutions that include: registered
education savings plans, retirement savings plans, life and disability
insurance, mutual funds, stocks, bonds, private equity, investment
banking and tax preferred investments. The following are affiliated
companies of Global: Global Growth Assets Inc. (Investment Fund
Manager), Global Maxfin Capital Inc.(IIROC), Global Maxfin Investments
Inc.(MFDA), Global RESP Corporation (Scholarship Plan Dealer) and
Global Insurance Solutions Inc.
About MineralFields Group, EnergyFields Group and Pathway Asset Management:
MineralFields Group and EnergyFields Group (divisions of Pathway Asset
Management), based in Toronto, Vancouver, Montreal and Calgary, are
mining and energy resource funds respectively, with significant assets
under administration offering tax-advantaged flow-through limited
partnerships to investors. Pathway Asset Management specializes in the
manufacturing and distribution of structured products and mutual funds
(including the Pathway Multi Series Fund Inc. corporate-class mutual
fund series). MineralFields and Pathway have financed several hundred
mining and oil and gas exploration companies, and have raised over $1
billion in their 10 year history.
SOURCE Global Financial
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