TORONTO, ONTARIO--(Marketwired - March 24, 2014) - Difference Capital Financial Inc. (TSX:DCF) ("DCF") has acquired ownership and control of 7,220,300 ("Benev Shares") common shares of Benev Capital Inc. ("Benev").
On March 21, 2014, DCF purchased the Benev Shares in a single transaction at a price of $1.91 per Benev Share (the "Transaction"). The Benev Shares were purchased via the Omega ATS market. The Benev Shares acquired by DCF as part of the Transaction represent an aggregate of approximately 18.6% of the current issued and outstanding Benev Shares. DCF relied upon the exemption under Section 100.1(1) of the Securities Act (Ontario) to make this purchase.
Immediately following the completion of the Transaction, DCF owned and controlled 11,027,900 Benev Shares, representing approximately 28.4% of the total outstanding Benev Shares.
DCF acquired the Benev Shares for investment and potentially strategic purposes. DCF may in the future take such actions in respect of its holdings as deemed appropriate in light of the circumstances then existing, including the purchase of additional Benev Shares through open market purchases or privately negotiated transactions, engaging in discussions with the board of directors of Benev regarding Benev, its prospects and potential means for enhancing shareholder value, including without limitation, with respect to a potential change in the composition of the board of directors of Benev, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers.
DCF's head office is located at 130 King Street West, Suite 2950, Toronto, Ontario M5X 1C7.
About Difference Capital Financial Inc.
Difference Capital Financial Inc. invests in and advises growth companies. We leverage our capital market expertise to help unlock the value in technology, media and healthcare companies as they approach important milestones in their business lifecycle. Difference Capital Financial Inc. is traded under the Toronto Stock Exchange under the symbol "DCF".
This release includes forward-looking statements regarding DCF and its business. Such statements are based on the current expectations and views of future events of DCF's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties beyond the control of DCF. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and DCF undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.