TORONTO, Aug. 1, 2018 /CNW/ - Evergreen Pacific Insurance Corporation ("EPIC") announces it has acquired all of the issued and outstanding shares in the capital of Revolution Insurance Services Inc. ("Revolution"), a Canadian insurance agency licensed to sell life, accident, and sickness insurance in Ontario. The purchase price and other terms of the transaction are not being disclosed.
Klaus Zabel, President of Markers Insurance and head of the insurance division of Evergreen Pacific Insurance Corporation, commented, "The acquisition of Revolution provides us with a well-established group insurance platform, to market employee benefit plans."
On June 14, EPIC subsidiary Markers Insurance announced it will introduce Canada's first guaranteed issue insurance product for individuals providing coverage for medical cannabis prescriptions. EPIC plans to introduce a group insurance product for employers later this year that will include coverage for medical cannabis and select paramedical services.
Evergreen Pacific Insurance Corporation Ltd. is a financial-services holding company. EPIC owns, operates, and invests in businesses involved in designing, developing and distributing highly innovative insurance products and risk management solutions. www.evergreenpacific.ca
The information contained in this news release is provided for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Evergreen Pacific Insurance Company Ltd. (EPIC) or other related entities. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The views, opinions and advice provided in this news release are provided for information purposes only. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this news release. Except for statements of historical fact, this news release may contain certain "forward-looking information" within the meaning of applicable securities laws. 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 anticipated in the forward-looking statements. This news release does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person as defined in Regulation S under the United States Securities Act of 1933 (as amended the "Securities Act"), or in any other jurisdiction in which such an offer would be illegal. Evergreen's shares have not been and will not be registered under the Securities Act.
SOURCE Evergreen Pacific Insurance Corporation
For further information: Evergreen Pacific Insurance Company, Gordon Forstner, Vice President, Communications, 416-560-8056, [email protected]