TORONTO, Sept. 19, 2012 /CNW/ - Vic Alboini (the "Offeror") announced his purchase through the facilities of the Toronto Stock Exchange of 1,702,000 common shares at a price of $0.05499 per share on April 20, 2012 and 939,000 common shares on September 17, 2012 at a price of $0.025 per share. These two purchases bring the number of common shares owned or over which the Offeror has control or direction to 15,700,571 representing approximately 14.4% of the total issued and outstanding common shares of Jaguar Financial Corporation ("Jaguar").
Northern Financial Corporation ("Northern"), an entity of which the Offeror is the Chairman and Chief Executive Officer, owns 11,210,315 common shares of Jaguar representing approximately 10.3% of the common shares of Jaguar.
Although there is no agreement between the Offeror and Northern, the parties are treated as acting jointly and in concert with regard to their respective ownership of common shares of Jaguar. The Offeror and Northern collectively own a total of 26,910,886 common shares of Jaguar representing approximately 24.6% of the total issued common shares of Jaguar. In addition, the Offeror has vested options to acquire 6,200,000 treasury common shares of Jaguar.
The Offeror acquired the common shares for investment purposes. The Offeror may, directly or indirectly, depending on market and other conditions, acquire beneficial ownership of, control or direction over, additional common shares of Jaguar, through market transactions, private agreements or otherwise, in accordance with applicable securities legislation. The Offeror or Northern may, depending on market and other conditions, sell any or all of their respective common shares.
The purchases were made in reliance on the exemption from the take-over bid requirements contained in section 100 of the Securities Act (Ontario) and section 6.1 of Multilateral Instrument 62-104.
Jaguar is a Canadian merchant bank that invests in undervalued small capitalization companies in a variety of industry sectors. The securities of Jaguar Financial Corporation are listed on the TSX under the symbol "JFC".
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Jaguar Financial Corporation
For further information:
145 King Street West, Suite 2020, Toronto, Ontario M5H 2Y4
Chairman and Chief Executive Officer