Jovian Completes $25.9 Million Private Placement

    TORONTO, Feb. 11 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX)
is pleased to announce the closing of the previously announced private
placement of 32,350,000 common shares of Jovian at a price of $0.80 per share
by 1189591 Alberta Ltd., which is majority owned and controlled by Calgary
businessman N. Murray Edwards. The net proceeds of approximately $25,880,000
will be used for strategic acquisitions, incubation of new products and ideas,
ongoing working capital requirements, and to repay certain existing
    Existing indebtedness to be repaid includes a total of $6,000,000 in
convertible debentures issued in May 2006 in connection with the acquisition
of Fairway Asset Management Corp. (now JovFunds Management Inc.). These
debentures mature in May 2008, carry a 6% annual coupon and are convertible
into common shares of Jovian at a price of $0.95 per common share. On October
2, 2007, Jovian negotiated an early repayment provision with the holders of
approximately $5,468,000 of these debentures (the "Early Repayment
Debentures"). On December 14, 2007, Jovian provided written notice to the
holders of the Early Repayment Debentures that Jovian intends to exercise its
early repayment option. Jovian subsequently obtained agreement from the
holders of the remaining debentures to allow Jovian to repay all debentures
early, and Jovian intends to do so. This will result in savings in the form of
interest charges, and will improve Jovian's overall balance sheet.
    In addition, Jovian wishes to announce that the previously announced
purchase by 1189591 Alberta Ltd. of an additional 6,379,432 common shares of
Jovian from certain shareholders at a price of $0.77 per share has been
completed, increasing the total holdings of 1189591 Alberta Ltd. to 49,829,432
common shares of Jovian, or 31.4% of Jovian's current issued and outstanding
    1189591 Alberta Ltd. acquired these shares for investment purposes and
has no current intention to acquire additional common shares of Jovian. In
addition, Edco Capital Corporation, a corporation also majority owned and
controlled by N. Murray Edwards, entered into a loan facility with Jovian in
December 2007 on terms which included the acquisition of 1.5 million warrants
to purchase common shares of Jovian at $0.80.

    About Jovian Capital Corporation

    Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a
management and holding company with interests in a variety of financial
service firms specializing in wealth(*) and asset(xx) management. The Jovian
group of companies operates as a national financial services organization with
approximately $14.4 billion of client assets ($5.4 billion in assets under
management and $9.0 billion in assets under administration).
    (*)Wealth management entities include MGI Securities Inc., MGI Securities
(USA) Inc. and Rice Financial Group Inc. (xx)Asset management entities include
BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc.,
JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc.
and T.E. Wealth. Financial corporate service entities include Felcom Data
Services Inc.

    The TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.

For further information:

For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Philip Armstrong, Chief Executive
Officer, Jovian Capital Corporation, (416) 933-5752; Additional information
relating to Jovian is available at and

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