2013-10-11 23:24:37 -
Toronto, Ontario CANADA, October 11, 2013 /FSC/ - Northern Financial Corporation (NFC - TSX Venture), ("Northern Financial" or the "Company") today announced that the Company sold 6,000,000 common shares of Jaguar Financial Corporation ("Jaguar") to Vic Alboini ("Alboini"), at $0.025 per share in settlement of a debt of $150,000 owing by the Company to Alboini.
The share transfer was approved by the disinterested shareholders of NFC at its annual meeting of shareholders on September 27, 2013 and approved by the TSX Venture Exchange. As a result of the acquisition of the 6,000,000 Jaguar common shares, Alboini currently owns or controls a total of 23,654,031 Jaguar common shares or approximately 21.68% of the total issued common shares of Jaguar.
result of the sale of the 6,000,000 Jaguar common shares, NFC currently owns 20,315 Jaguar common shares. Alboini is Chairman and CEO of NFC and owns 31.4% of the total issued common shares of NFC. Alboini is also the Chairman and CEO of Jaguar.
About Northern Financial Corporation
Northern Financial Corporation is a financial advisory firm and merchant bank, with a specialization in mergers and acquisitions, merchant banking investments, risk arbitrage merger and acquisition investments, financial restructurings, proxy solicitation and information agent services.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman and Chief Executive Officer
To view the press release as a PDF file, please click on the following link:
Source: Northern Financial Corporation (TSX-V: NFC)
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