TORONTO, April 2 /CNW/ - Canadian Medical Discoveries Fund Inc. ("CMDF")
is pleased to announce that, further to the press release dated October 6,
2006, Jovian Capital Corporation ("Jovian") (JVN: TSX-V), through a
wholly-owned subsidiary, has completed a transaction in which it indirectly
acquired the remaining issued and outstanding shares of JovFunds Management
Inc. (formerly Fairway Asset Management Corp.) ("JovFunds"). Medical Discovery
Management Corporation (the "Manager"), the manager of CMDF, is an indirect
wholly owned subsidiary of JovFunds and, therefore, as a result of this
transaction, JovFunds and the Manager are now indirect wholly owned
subsidiaries of Jovian.
About Jovian Capital Corporation
Jovian is a publicly-traded company listed on the TSX Venture Exchange.
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 $13.5 billion of client assets ($4.9 billion
assets under management and $8.6 billion assets under administration).
JovFunds provides investment solutions for Canadian investors through the
creation, management and distribution of high quality investment products. As
a member of the Jovian group of companies, JovFunds oversees the management
and distribution of a diverse range of investment products and currently has
over $1 billion in client assets.
About Canadian Medical Discoveries Fund Inc.
CMDF is Canada's most mature health science, labour-sponsored venture
capital fund, with more than $200 million in managed assets. Established in
1994 and available across Canada, CMDF has venture capital investments in
approximately 40 companies involved in health sciences, biotechnology,
diagnostics, medical devices, drug discovery and development, health care
delivery services and e-health.
(*)Wealth management entities include Convoy Capital Corporation, JovFunds
Inc., MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group
Inc. (xx)Asset management entities include Accumulus Management Ltd., BetaPro
Management Inc., Charterhouse PSI Management Corporation, DOCP Management
Corp., Horizons Funds Inc., Jove Investment Management Inc., JovFunds
Management Inc., Jovian Asset Management Inc., Leon Frazer & Associates Inc.,
Pescara Partners Inc., Taliesin Capital Inc., T.E. Wealth. Financial corporate
service entities include Felcom Data Services Inc. and Services Felcom Data
(Quebec) Inc./Felcom Data Services (Quebec) Inc.
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Steve Hawkins, Managing Partner,
JovFunds Management Inc., 1-866-601-2440; or Please visit
www.joviancapital.com and www.cmdf.com