/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
HAMILTON, Bermuda, April 7, 2014 /CNW/ - Aurigen Capital Limited ("Aurigen") announced today that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories in Canada in connection with a proposed initial public offering of its common shares (the "Common Shares"). The preliminary prospectus which contains important information about Aurigen and its share offering will be available on SEDAR at www.sedar.com.
The proposed offering is being made through a syndicate of underwriters led by RBC Capital Markets, Canaccord Genuity Corp. and TD Securities.
The preliminary prospectus has not yet become final for the purpose of a distribution of securities to the public. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any acceptance of an offer to buy, the Common Shares in any province or territory of Canada prior to the time a receipt for the final prospectuses or other authorization is obtained from the securities commission or similar regulatory authority in such province or territory. Completion of the initial public offering of Common Shares is subject to and conditional upon the receipt of all necessary approvals.
The offer and sale of the Common Shares will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States. The Common Shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares in the United States, nor shall there be any offer or sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Aurigen's core business is the reinsurance of individual life insurance policies. The company's vision is to develop as a leading life reinsurer providing innovative and customized risk and capital management solutions to enterprises exposed to biometric risks, such as mortality and morbidity, and other related risks. Aurigen is licensed to transact life reinsurance in Canada, the United States and Bermuda and has a life reinsurance in force portfolio of approximately $36 billion and consolidated assets in excess of $400 million. Each of Aurigen's operating life reinsurance companies has a financial strength rating of "A- (Stable)" from A.M. Best Company Inc. Additional information can be found at www.AurigenRe.com.
Certain statements in this press release contain "forward-looking statements" within the meaning of securities laws. Forward-looking statements may relate to Aurigen's future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of Aurigen. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of Aurigen or the reinsurance industry are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements of Aurigen to be materially different from those expressed or implied by such forward looking statements, including but not limited to the factors described in the Risk Factors section of Aurigen's preliminary prospectus dated April 7, 2014, relating to the offering announced in this press release. Aurigen does not undertake to update any forward-looking statements that are contained herein, except as required by applicable securities laws.
SOURCE: Aurigen Capital Limited
For further information:
Chief Executive Officer
Aurigen Capital Limited