BluMont Capital Inc.
TSX VENTURE : BCC

BluMont Capital Inc.

May 23, 2006 11:40 ET

BluMont Capital Inc. Responds to Exchange Offer by Integrated Asset Management Corp.

TORONTO, ONTARIO--(CCNMatthews - May 23, 2006) - BluMont Capital Inc. ("BluMont") (TSX VENTURE:BCC) today responded to the offer proposed by Integrated Asset Management Corp. for the publicly held shares of BluMont Capital Inc.

BluMont has received an offer from Integrated Asset Management Corp. ("IAM") announced today proposing an exchange offer for any and all of the outstanding common shares of BluMont that IAM does not already own, with the consideration being 1/3 of one common share of IAM for each common share of BluMont held. IAM currently owns approximately 46.1% of the outstanding common shares of BluMont.

"We have received an offer from Integrated Asset Management Corp." stated Thomas Simpson, Chairman of BluMont. "The Board of Directors will be establishing a committee to review the offer."

Although it is currently proposed that the offer by IAM take the form of a take-over bid, in certain circumstances, IAM has indicated that it may proceed to effect the proposed going private transaction by way of an amalgamation or similar transaction on the same terms as set forth above.

Completion of the proposed offer will be subject to customary conditions, including receipt of all necessary regulatory approvals. Further details of the offer will be contained in the take-over bid circular or other disclosure document to be mailed to BluMont shareholders in connection with the proposal.

About BluMont

BluMont is a leading provider of alternative investment products to Canadian investors. Specializing in hedge funds, the firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs 40 people nationwide and has approximately C$850 million in assets under management. BluMont is 46.1% directly owned by Toronto-based Integrated Asset Management Corp. (TSXV:IAM), a leading alternative asset investment management company with approximately C$3 billion in assets and committed capital under management. Further information on BluMont can be found at www.blumontcapital.com.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • BluMont Capital Inc.
    Stephen J. Kangas
    President
    (416) 216-3566