Pan Atlantic Bank and Trust Limited

July 27, 2009 11:08 ET

Pan Atlantic Bank and Trust Limited Acquires Shares of Counsel Corporation

TORONTO, ONTARIO--(Marketwire - July 27, 2009) - Pan Atlantic Bank and Trust Limited has acquired 2,200,000 Common Shares of Counsel Corporation (TSX:CXS) from treasury at a price of $0.75 per Common Share in a private placement. Pan Atlantic Bank and Trust Limited, its affiliates and accounts managed by one of its affiliates now hold 9,647,750 Common Shares, representing 15.84% of the issued and outstanding Common Shares of Counsel Corporation.

The shares acquired in the private placement were acquired for investment purposes. Pan Atlantic intends, subject to market conditions, to make additional acquisitions or dispositions in securities of Counsel Corporation in the future.

Contact Information

  • Pan Atlantic Bank and Trust Limited
    Robert J. Bourque
    Managing Director
    1-246-436-9756
    1-246-228-1156 (FAX)