VANCOUVER, April 13, 2012 /CNW/ - Maxam Opportunities Fund Limited Partnership and Maxam Opportunities Fund (International) Limited Partnership (together, the "Maxam Funds") announce that they have acquired an aggregate of 300,000 common shares (the "Shares") of HOMEQ Corporation (the "Issuer") at a price of $9.40 per Share. Immediately after the acquisition, the Maxam Funds beneficially own and control 1,744,165 common shares of the Issuer, representing approximately 12.2% of the Issuer's issued and outstanding common shares. The Maxam Funds acquired the Shares pursuant to open market purchases on the TSX.
The Maxam Funds are managed by their general partners, Maxam Opportunities GP Ltd. and Maxam Opportunities (International) GP Ltd. (together, the "Maxam General Partners"), respectively. The Maxam General Partners are majority owned by Maxam Capital Corp. ("Maxam Capital"). Maxam Capital also owns 70% of Maxam Capital Management Ltd., which manages the Maxam Diversified Strategies Fund which owns an aggregate of 25,000 common shares of the Issuer.
The common shares of the Issuer are listed on the TSX and trade under the symbol "HEQ". The Maxam Funds acquired the Shares for investment purposes. Depending on market conditions, the Maxam Funds may in the future increase or decrease their investment in the Issuer.
An Early Warning Report in respect of this acquisition will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.
MAXAM OPPORTUNITIES FUND LIMITED PARTNERSHIP by its general partner MAXAM OPPORTUNITIES GP LTD.
Maxam Opportunities Fund Limited Partnership
1245-200 Granville Street
Vancouver, British Columbia V6C 1S4