Nov. 1, 2019 /CNW/ - On October 30, 2019 Kingsway Financial Services Inc.
(Kingsway) sold and disposed of ownership and control
of a total of 1,974,113 common shares (the Shares) of Itasca
Capital Ltd. (Itasca) at a
price of CDN$0.35 per share pursuant
to a private agreement for total gross proceeds of CDN$690,939.55.
The Shares represent approximately 9.05% of the total
issued and outstanding common shares of Itasca, assuming 21,810,626
common shares outstanding, as disclosed in Itasca's most recently filed interim financial
statements for the six month period ended June 30, 2019.
Before the sale, Kingsway held 4,985,560 common shares
representing approximately 22.86% of the total issued and
outstanding common shares of Itasca. Following the sale, Kingsway
holds 3,011,447 common shares representing, approximately 13.81% of
the outstanding common shares of Itasca.
Kingsway sold the Shares as part of its ongoing portfolio
management. Depending on market and other conditions, Kingsway may
take such actions in respect of its holdings in the future as it
deems appropriate in light of the circumstances then existing,
including the disposition of its remaining position in
Itasca's head office is located
at: 1800 - 510 West Georgia Street, Vancouver, British Columbia, V6B 0M3.
Kingsway's address and other contact information is set
forth below. For further information, including to obtain a copy of
the "early warning" report required to be filed in accordance with
applicable Canadian securities laws, contact Kingsway at the
address specified below.
Kingsway Financial Services Inc.
Pierce Road, 6th Floor
Itasca, Illinois USA
SOURCE Kingsway Financial Services Inc.