OAKVILLE, ON, March 1, 2012 /CNW/ - Canadian Title Loan Corporation ("CTL"), a specialty vehicle finance company, announced today that it has combined with Versara Fund Inc. ("Versara") a niche personal injury finance company operating in British Columbia, to form Specialty Finance Group Ltd. ("SFG") a diversified, high-yield finance organization operating across Canada.
As part of the business combination, CTL also announced the issuance of $5M in preferred shares from treasury.
Jeffrey Newhouse, CA, President of CTL commented "Combining with Versara under the parent company SFG will create a nationwide niche finance organization that generates high-yield returns from continuous cash flows while diversifying credit and liquidity risk through its specialty finance subsidiary companies."
SFG is privately held and well capitalized by high net worth lenders who seek consistent cash flows from secured debt placements.
For further information:
Jeffrey Newhouse, CA, MTax, CFP
President - Specialty Finance Group Ltd.
117-1660 North Service Road East