Olympia Financial Group Inc.

Olympia Financial Group Inc.

March 27, 2017 07:00 ET

Olympia Financial Group Inc. Announces Filing of Early Warning Report Pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

CALGARY, ALBERTA--(Marketwired - March 27, 2017) - Olympia Financial Group Inc. ("Olympia") (TSX:OLY) announces, as required by National Instrument 62-103 - The Early Warning System and Related Take Over Bids and Insider Reporting Issues, the filing of an early warning report (the "Early Warning Report") regarding the disposition of common shares of Olympia by Target Capital Inc. ("Target"); a reporting issuer listed on the TSX-V of which Richard Skauge is the controlling shareholder.

The Early Warning Report discloses that on March 24, 2017, Target sold to several arms-length private parties, through a private sale, an aggregate of 55,200 common shares of Olympia at a price of $29.00 per Olympia common share (the "Disposition").

After giving effect to the Disposition, Mr. Skauge beneficially owns and controls 699,420 common shares of Olympia representing 29.07% of the issued and outstanding common shares of Olympia on a non-diluted and fully diluted basis.

The Disposition was made in order to allow Target repay amounts owing to Target bondholders. Mr. Skauge currently has no intention to dispose of or acquire additional common shares of Olympia.

A copy of the Early Warning Report filed under applicable securities laws is available under Olympia's profile on SEDAR (www.sedar.com).

About Olympia Financial Group Inc.

Olympia conducts most of its operations through its wholly-owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc., operates an ATM business through its wholly-owned subsidiary Olympia ATM Inc. and provides information technology services to exempt market dealers, registrants and issuers through its subsidiary Exempt Edge Inc.

Olympia's common shares are listed on the Toronto Stock Exchange under the symbol "OLY".

Contact Information

  • Olympia Financial Group Inc.
    Rick Skauge
    President and Chief Executive Officer
    (403) 261-0900
    (403) 265-1455 (FAX)

    Olympia Financial Group Inc.
    Gerhard Barnard
    Vice-President, Finance and Chief Financial Officer
    (403) 261-0900
    (403) 265-1455 (FAX)