Stellwagen Finance Company Limited

January 10, 2017 08:58 ET

Stellwagen Finance Company Limited Announces Filing Regarding Acquisition of Shares of Acasta Enterprises Inc.

DUBLIN, IRELAND--(Marketwired - Jan. 10, 2017) - Stellwagen Finance Company Limited ("SFCL") announces that on January 3, 2017 it acquired 21,280,160 class B shares (the "Class B Shares") in the capital of Acasta Enterprises Inc. ("AEI" or the "Issuer"). The Class B Shares were issued in connection with a transaction between AEI and SFCL pursuant to which SFCL sold to AEI its aviation finance advisory and management business (the "Transaction"). The purchase price consisted of cash, Class B Shares and an earnout in favour of SFCL subject to certain targets. For more information on this agreement, refer to the Issuer's press release of January 3, 2017 and the Issuer's material change report dated November 18, 2016.

As of the date hereof, the 21,280,160 Class B Shares represent approximately 22.96% of the issued and outstanding Class B Shares of the Issuer and are the only Class B Shares held by SFCL. The Class B Shares were issued at C$10 per Class B Share for total consideration of C$212,801,600. The Class B Shares are presently being held by SFCL for investment purposes. SFCL may, depending on market conditions and applicable lock-up conditions and securities laws, increase or decrease its beneficial ownership of the Issuer's securities, through market transactions, private agreements or otherwise.

The head office of the Issuer is located at 150 Bloor Street West, Suite 310, Toronto, ON M5S 2X9. An early warning report containing additional information will be filed under the Issuer's SEDAR profile at Further information or copy of the early warning report may be obtained by contacting: Pauline McAlester, Murray Consultants, Tel: +353-1-4980300 / +353-87-2558300,

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