Aston Hill Announces Renewal of Normal Course Issuer Bid

TORONTO, Oct. 15, 2015 /CNW/ - Aston Hill Financial Inc. ("Aston Hill" or the "Company") (TSX: AHF and AHF.DB) announced today that the Toronto Stock Exchange (the "TSX") has approved the Company's notice of intention to renew its normal course issuer bid for a portion of its common shares ("Common Shares") and 6% extendible convertible unsecured subordinated debentures ("Convertible Debentures").  The normal course issuer bid will be made in accordance with the requirements of the TSX.  Aston Hill may begin to purchase Common Shares and Convertible Debentures on or about October 20, 2015, subject to Company blackout periods.

As of October 6, 2015, 102,260,632 Common Shares and $40,036,000 principal amount of Convertible Debentures were outstanding.  Pursuant to the normal course issuer bid, Aston Hill intends to acquire up to 6,377,576 Common Shares and $3,980,000 principal amount of Convertible Debentures in the 12-month period commencing October 20, 2015 and ending on October 19, 2016, which figures represent 10% of the public float of outstanding Common Shares and Convertible Debentures, respectively, as of October 6, 2015.  Purchases under the normal course issuer bid will be made by Aston Hill through the facilities of the TSX and in accordance with applicable regulatory requirements. The price that Aston Hill will pay for any Common Shares or Convertible Debentures will be the market price of such Common Shares or Convertible Debentures at the time of acquisition.

The average daily trading volume (the "ADTV") for the period of April 1, 2015 to September 30, 2015 was 80,656 Common Shares and $42,507 principal amount of Convertible Debentures.  Pursuant to the TSX rules, the maximum number of securities that may be repurchased during the same trading day is 25% of the ADTV, being 20,164 Common Shares and $10,626 principal amount of Convertible Debentures, in each case subject to Aston Hill's ability to make one block purchase of each of the Common Shares and Convertible Debentures per calendar week that exceed such limits. Any Common Shares and Convertible Debentures that are purchased under the normal course issuer bid will be cancelled upon their purchase by Aston Hill. Aston Hill will fund the purchases through available cash.

Under its existing normal course issuer bid, which ends on October 19, 2015, Aston Hill purchased, up to and including October 15, 2015, 1,333,854 Common Shares at a weighted average price paid per Common Share of $0.5035 and $172,000 principal amount of Convertible Debentures at a weighted average price paid per Convertible Debenture of $90.0379.

Aston Hill believes that the repurchase by the Company of a portion of outstanding Common Shares and Convertible Debentures is an appropriate use of available cash and is in the best interests of Aston Hill and its securityholders.

Aston Hill Financial Inc. (TSX: AHF) is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. Aston Hill Financial has offices in Toronto and Halifax.

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

SOURCE Aston Hill Financial Inc.

Peter Anderson, Interim Chief Executive Officer, Aston Hill Financial Inc., [phone]; Derek Slemko, Interim Chief Financial Officer, Aston Hill Financial Inc., [phone]