TORONTO, Feb. 25 /CNW/ - Lawrence Asset Management Inc. ("LAMI")
announced its acquisition of control of 2,145,000 common shares of Homeland
Energy Group Ltd. ("HEG"; TSX:HEG), representing approximately 0.94% of the
total issued common shares of HEG, which will be owned by funds managed by
LAMI. The HEG common shares were acquired on the Toronto Stock Exchange at a
price of CDN$0.30.
Combined with the HEG common shares previously owned by funds managed by
LAMI, immediately following the transaction LAMI had control over 23,901,100
common shares of HEG, representing approximately 10.51% of the total issued
common shares of HEG.
LAMI acquired the common shares of HEG for investment purposes on behalf
of funds it manages and it may, depending on market and other conditions,
increase or decrease its ownership of, or control over, common shares of HEG
through market transactions, private agreements or otherwise. LAMI is also
currently exploring a number of strategic value enhancing propositions to
increase shareholder value, including the replacement of the existing board of
directors of HEG through a shareholder meeting requisition and proxy
Ravi Sood, President of LAMI, has ownership and control over 50,000
common shares of HEG, representing 0.02% of the outstanding securities of that
class. While Mr. Sood may be considered a joint actor with LAMI, LAMI does not
have any ownership or control over these common shares.
Lawrence Asset Management is a specialized global asset management firm
with interests and investments in Canada and around the world.
For further information:
For further information: or to obtain a copy of the report filed with
the Canadian securities regulatory authorities in respect of which this news
release relates, please contact: Catherine Stretch, (416) 362-6283,