CALGARY, Nov. 14, 2012 /CNW/ - Aston Hill Financial Inc. (the "Company" or "Aston Hill") (TSX: AHF) is pleased to announce that it has entered into an agreement to purchase Citadel Securities Inc. ("Citadel"), a Halifax based IIROC registrant.
Pursuant to the acquisition of Citadel, Aston Hill will acquire directly or indirectly all of the issued and outstanding common shares of Citadel. Citadel will continue to operate in Halifax as an Investment Dealer and private wealth management brokerage business combining the local knowledge and presence of Citadel with the national strength and coverage of Aston Hill.
Completion of the purchase, which is expected to occur on or about December 17, 2012, is subject to certain closing conditions including regulatory approvals, board approvals, and other customary closing conditions.
About Aston Hill
Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed-end funds, private equity funds, hedge funds and segregated institutional funds. The Company is also engaged in oil and gas property management. Aston Hill Financial Inc. has offices in Calgary and Toronto. Aston Hill currently has over $6.0 billion in assets under management and administration.
Citadel Securities is a full service, employee owned investment dealer with its head office located in Halifax, Nova Scotia. It is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. Citadel provides professional, personalized investment advice and services to private and institutional investors.
The TSX has neither approved nor disapproved the information contained herein.
Neither TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
The information and statements in this news release contain certain forward-looking information. All statements other than statements of historical fact may be forward-looking information. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking information.
SOURCE: Aston Hill Financial Inc.
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Chief Executive Officer
Aston Hill Financial Inc.
Vice President and CFO
Aston Hill Financial Inc.