TORONTO, ONTARIO--(Marketwired - Feb. 13, 2014) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES
As previously announced on November 13, 2013, Gravitas Financial Inc. (CSE:GFI) ("Gravitas" or the "Company"), through its wholly-owned subsidiary Gravitas Financial Services Holdings Inc., entered into a share purchase agreement to acquire 40% of the issued and outstanding shares of Portfolio Analysts Inc. ("PAI"), the parent company of Portfolio Strategies Corporation, a leading Canadian independent mutual fund dealer (the "Acquisition"). Gravitas today announced that it has closed the Acquisition. Gravitas is pleased to have been able to acquire an interest in such an established, well-run company, and no changes are contemplated in the management or business operations of Portfolio Strategies Corporation.
ABOUT GRAVITAS FINANCIAL INC.
Gravitas is a financial services, research and analytics holding company providing, through its various subsidiaries, capital market services to individual, private and public company clients. Through its portal www.smallcappower.com, it also provides information to corporate and individual investors. Gravitas conducts its operations from its head office in Toronto, Canada. Gravitas intends to utilize the public company platform and enhanced access to capital to grow its existing business and to provide new and enhanced products to its clients.
ABOUT PORTFOLIO STRATEGIES CORPORATION
Founded in 1994 and based in Calgary, Alberta, Portfolio Strategies Corporation is one of Canada's largest independent Mutual Fund and Exempt Market dealerships. With over $ 2.1 billion in assets under administration and more than 270 Advisors located in offices in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, it specializes in helping Advisors help their clients with proven, common sense financial planning and investment advice. Portfolio Strategies Corporation is a member of the Mutual Fund Dealers Association and the Investment Funds Institute of Canada.