Avenue Financial Corporation

Avenue Financial Corporation

March 18, 2005 16:32 ET

Avenue Financial Corporation Announces Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AVENUE FINANCIAL CORPORATION

TSX VENTURE SYMBOL: AFC

MARCH 18, 2005 - 16:32 ET

Avenue Financial Corporation Announces Private
Placement

TORONTO, ONTARIO--(CCNMatthews - March 18, 2005) - Avenue Financial
Corporation (TSX VENTURE:AFC) announces it intends to raise up to
$1,000,000 by way of a brokered private placement consisting of up to
20,000,000 units being sold at $0.05 per unit, each unit consisting of
one common share and one share purchase warrant entitling the holder to
purchase one common share at a price of $0.10 per share for a period of
two years, subject to TSX Venture Exchange's final approval. These
securities are subject to a four-month hold period from the date of
issuance of the securities.

Avenue Financial Corporation through its affiliate Avenue Global Asset
Management Inc. ('AGAM") is currently offering three Series of Shares
available on a rolling close basis to accredited investors through
qualified Investment Advisors, Counselors and Planners in select
jurisdictions within Canada. Broker access to this product is available
on FundSERV under the management code AGA.

Commented Robin Ross, Chairman and CEO, ' Growth of Alternative Asset
Investments in Canada is at an annual rate of over 45%. The Canadian
market is significantly behind that of the United States in relative
size. Avenue intends to participate in and ultimately benefit from this
growth. The AGAM platform allows for the introduction of new products
with little cost and on a timely basis. Over the next 18 months, we plan
on introducing new products and new distribution partners for both the
retail and institutional markets. This current money raise will be used
primarily for product marketing and distribution.'

About Avenue Financial Corporation

Avenue Financial Corporation is a TSX Venture listed company which
designs and develops innovative investment products for high net worth
investors and select institutions. Through its international affiliates
Avenue Financial Corporation plans to be a global administrator of both
segregated and pooled managed fund products and services.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Avenue Financial Corporation
    Robin Ross
    Chairman & CEO
    (416) 362-1800
    rross@avenuefinancialcorp.com
    www.avenuefinancialcorp.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy of this release.