CHICAGO, IL, Jan. 5 /CNW/ - JJR VI Acquisition Corp. (the "Company" TSXV: JVI.P) announced today that the TSX Venture Exchange (the "Exchange") has accepted for filing its qualifying transaction (the "Qualifying Transaction") involving American Country Insurance Company ("ACIC") and American Service Insurance Company, Inc. ("ASI") and that trading in the ordinary shares of the Company ("Ordinary Shares") is anticipated to commence on the Exchange on January 6, 2010.  The Qualifying Transaction was completed on December 31, 2010.

In connection with the Qualifying Transaction, the name of the Company has been changed to Atlas Financial Holdings, Inc.  The Ordinary Shares of the Company will be listed on Tier 2 of the Exchange under the symbol "AFH".  The Ordinary Shares are expected to remain halted until issuance of a final bulletin by the TSXV.

Pursuant to the Qualifying Transaction, which involved the merger (the "Merger") of Atlas Acquisition Corp., (a wholly-owned subsidiary of the Company) with and into American Insurance Acquisition Inc. ("AIAI"), a wholly-owned subsidiary of Kingsway America Inc., ACIC and ASI became wholly-owned subsidiaries of the Company.

Upon completion of the Qualifying Transaction, the Company will have issued and outstanding 4,553,502 Ordinary Shares, 13,804,861 restricted voting common shares ("Restricted Voting Shares"), 18 million non-voting preferred shares and 3,983,502 warrants to purchase Ordinary Shares (the "Warrants").  The Ordinary Shares and the Restricted Voting Shares are entitled to one vote per share, however, the Restricted Voting Shares are limited as a class to 30% of the outstanding voting rights of the Company.

In connection with the Qualifying Transaction, and immediately prior to its completion, the Company consolidated its common shares on the basis of one (1) post-consolidation share for every ten (10) pre-consolidation shares and continued its corporate existence from Ontario to the laws of the Cayman Islands.  Upon the continuance to the Cayman Islands, the Company changed its name from "JJR VI Acquisition Corp." to "Atlas Financial Holdings, Inc." and converted each of its outstanding common shares into one (1) Ordinary Share.

As previously announced, on November 1, 2010, AIAI completed an offering (the "Offering") of 3,983,502 subscription receipts ("Subscription Receipts") at a price of $2.00 per Subscription Receipt.  In connection with the Merger, each Subscription Receipt was ultimately exchanged for one (1) Ordinary Share and one (1) Warrant and the proceeds from the Offering were used to repay indebtedness owing to Kingsway America Inc.

For further information on the Qualifying Transaction, please refer to the Company's Filing Statement dated December 16, 2010 which is available on SEDAR (www.sedar.com).

At the closing of the Qualifying Transaction, Ronald D. Schmeichel and Elena Masters resigned as directors of the Company. The new board of directors of the Company is comprised of Jordan Kupinsky, Larry Swets, Gordon Pratt and Scott Wollney. The new senior management team of the Company will consist of Scott Wollney as Chief Executive Officer and Paul Romano as Chief Financial Officer.

Notice regarding forward-looking statements:

This release includes forward-looking statements regarding the Company and its subsidiaries and businesses.  Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, including acceptance of the transaction, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the insurance industry, economic factors and the equity markets generally.  No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company and its subsidiaries undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

The primary business of Atlas is commercial automobile insurance in the United States, with a niche market orientation and focus on insurance for the "light" commercial automobile sector including taxi cabs, non emergency paratransit, limousine/livery and business auto.  The business of Atlas is carried on through its subsidiaries American Country Insurance Company and American Service Insurance Company, Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE JJR VI Acquisition Corp.

For further information:

Scott Wollney, Chief Executive Officer of Atlas Financial Holdings, Inc. at 847-700-8600

Profil de l'entreprise

JJR VI Acquisition Corp.

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