TORONTO, Jan. 19 /CNW/ - Koloshuk Farrugia Corp. ("KFC") today announced that it has acquired from a seller 1,339,000 common shares of Integrated Asset Management Corp. ("IAM"), representing approximately 4.7% of the outstanding common shares of IAM, at a price of $0.52 per share under a private agreement. As a result of this acquisition, KFC became the beneficial owner of 10,552,333 common shares of IAM, representing approximately 37.3% of the outstanding common shares of IAM.
Victor Koloshuk, the Chairman and Chief Executive Officer of IAM, who is presumed to be acting jointly or in concert with KFC, beneficially owns, directly or indirectly, 306,940 common shares of IAM and options to acquire an additional 165,000 common shares of IAM. Stephen C. Johnson, the Chief Financial Officer of IAM, who is presumed to be acting jointly or in concert with KFC, beneficially owns, directly or indirectly, or exercises control or direction over 282,000 common shares of IAM and options to acquire an additional 70,000 common shares of IAM.
The acquisition of the common shares of IAM by KFC was undertaken for investment purposes. KFC will evaluate its ownership position in IAM from time to time, and depending on a number of circumstances (including, but not limited to, performance of the common shares of IAM in the market), KFC may from time to time purchase directly or indirectly additional common shares of IAM to increase its ownership position in IAM.
SOURCE KOLOSHUK FARRUGIA CORP.
For further information: For further information: Stephen C. Johnson at (416) 933-8278