H.O. Financial Ltd.

February 02, 2006 09:00 ET

H. O. Financial Limited: Early Warning Press Release

TORONTO, CANADA--(CCNMatthews - Feb. 2, 2006) - H. O. FINANCIAL LIMITED (TSX VENTURE:HOF) wishes to announce that Geoffrey Matus, a Director and Chairman of the Board of H. O. Financial Limited (the "Company"), has acquired beneficial ownership of or control over an additional 772,400 Common Shares of the Company. Together with the 565,560 Common Shares of the Company beneficially owned or controlled by Mr. Matus, Mr. Matus beneficially owns or controls an aggregate 1,337,960 Common Shares, which represents approximately 11.73% of the 11,398,668 Common Shares of the Company presently issued and outstanding. The securities were acquired from certain Senior Officers and Directors of the Company by private agreements.

There is no person or company acting jointly or in concert with Mr. Geoffrey Matus in connection with the ownership of, or control over the securities acquired.

The 772,400 Common Shares were acquired for cash consideration at an average price of $0.96 Canadian per share for aggregate consideration of approximately $747,334. Mr. Matus acquired the Common Shares for investment purposes only and has no current intention to acquire ownership of, or control over, additional securities of the Company.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information contained in this news release.

Contact Information

  • H.O. Financial Ltd.
    Mr. Michael A. Eustace
    (416) 964-6200
    (416) 964-8779 (FAX)