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Lorne Park Capital Partners Inc. Closes Acquisition of Adaptive Asset Management Ltd.

Lorne Park Capital Partners Inc. Closes Acquisition of Adaptive Asset Management Ltd.

Toronto, Ontario, Aug 20, 2018 (Newsfile Corp via COMTEX) — Lorne Park Capital Partners Inc. (LPC) (“LPCP”) is pleased to announce that further to its press release of July 30, 2018, it has completed its previously announced acquisition of Adaptive Asset Management Ltd. (“Adaptive”), a portfolio manager based in Toronto (the “Transaction”).

Bellwether Investment Management Inc. (“Bellwether”), a subsidiary of LPCP, acquired all of the shares of the parent company of Adaptive in exchange for consideration of $350,000. On closing, LPCP issued 500,000 common shares of LPCP to the vendor at a deemed issue price of $0.40 per common share. Common shares issued pursuant to the Transaction are subject to a statutory four month and one day hold period ending December 21, 2018. Bellwether will pay a further $75,000 in cash on each of the first and second anniversaries of closing, in each case subject to adjustment as provided in a share purchase agreement in respect of the Transaction.

Upon receipt of applicable regulatory approvals, Adaptive will transfer to Bellwether all assets, business, and undertaking associated with its portfolio management business, and will cease to perform registrable activities. Bellwether will continue Adaptive’s business as a separate operating division under the name “Adaptive Investment Management”. Thereafter, Adaptive Asset Management Ltd., the corporation that currently runs Adaptive’s business, will be dissolved.

About Lorne Park Capital Partners Inc.

LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost effective investment solutions to affluent investors, foundations, estates and trusts. LPCP’s unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.

About Bellwether Investment Management Inc.

Bellwether is a boutique investment manager that offers tailored investment solutions for affluent investors, foundations, estates and trusts utilizing its proprietary “Disciplined Dividend Growth” Investment Process. Bellwether provides discretionary investment management focused on North American Dividend Growth investing and is dedicated to serving the distinct needs of affluent families. Bellwether’s suite of investment solutions includes Canadian, US and global equity and fixed income strategies. Bellwether is a subsidiary of LPCP, and is registered a portfolio manager in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Prince Edward Island, Quebec and Saskatchewan, an exempt market dealer in Alberta, British Columbia, Nova Scotia, Ontario, Prince Edward Island, and Quebec, and an investment fund manager in Ontario and Quebec.

About Adaptive Asset Management Ltd.

Adaptive is a Toronto-based investment management firm specializing in innovative, systematic portfolio strategies for individual and institutional clients. Adaptive also provides institutional fixed income expertise. Client accounts are managed on a separate-managed basis, in which each client account is modeled and managed according to the client’s risk profile and investment objectives. Adaptive is registered as a portfolio manager in Ontario.

Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “plan”, and other similar expressions. Forward looking information in this news release includes, without limitation the wind-up and dissolution of Adaptive, and LPCP’s objectives, goals and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management’s current expectations, estimates, projections and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of negotiations, due diligence, and regulatory approvals. Management of LPCP considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, failure to obtain regulatory approval, and changes in applicable laws or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. LPCP disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.


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Contact Information

  • Lorne Park Capital Partners Inc.
    Robert Sewell
    Chief Executive Officer
    (905) 337-2227