TORONTO, Jan. 9, 2012 /CNW/ - Investment fund manager Global Growth Assets Inc. ("Global"), a subsidiary of the Global group of companies, is pleased to announce that it has today entered into an agreement to acquire the assets of MineralFields Group and its affiliated companies Pathway Asset Management and EnergyFields Group ("MineralFields"). The agreement is subject to regulatory approval.
MineralFields is well-known in the Canadian marketplace for its tax-advantaged flow-through shares in the mining and oil and gas sectors through Flow-Through Limited Partnerships.
Global is a leading Canadian independent financial services company that identifies and aligns itself with tax-advantaged and tax-efficient financial products for Canadians. Mr. Sam Bouji, Chairman and CEO of Global, commented on the acquisition as continuing Global's growth plan in the industry: "we've made a number of acquisitions in the past; however, the MineralFields acquisition is a key strategy and will position Global for future growth. Global will continue its strategy of identifying and aligning itself with acquisitions into the future."
Mr. Joe C. Dwek, co-owner of MineralFields referred to the acquisition as the right opportunity for Global to pursue its strategic plans in both the resource sector and the tax-advantaged product space.
The current business model for MineralFields will be maintained under Global and the new trade names will include the Global name, that is - Global MineralFields Group, Global Pathway Asset Management, and Global EnergyFields Group. Global's corporate strategy includes organic and acquisitive growth in both product and distribution.
About Global group of companies:
Global is a dynamic independent financial services firm focused on providing Canadians with financial solutions that include: registered education savings plans, retirement savings plans, life and disability insurance, mutual funds, stocks, bonds, private equity, investment banking and tax preferred investments. The following are affiliated companies of Global: Global Growth Assets Inc. (Investment Fund Manager), Global Maxfin Capital Inc.(IIROC), Global Maxfin Investments Inc.(MFDA), Global RESP Corporation (Scholarship Plan Dealer) and Global Insurance Solutions Inc.
About MineralFields Group, EnergyFields Group and Pathway Asset Management:
MineralFields Group and EnergyFields Group (divisions of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, are mining and energy resource funds respectively, with significant assets under administration offering tax-advantaged flow-through limited partnerships to investors. Pathway Asset Management specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies, and have raised over $1 billion in their 10 year history.
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