ITASCA, IL, Nov. 27, 2019 /CNW/ - On November 25, 2019 Kingsway Financial Services
Inc. (Kingsway) sold and disposed of ownership and control
of a total of 3,011,447 common shares (the Shares) of Itasca
Capital Ltd. (Itasca) at a
deemed price of CDN$0.349 per share
pursuant to a private agreement for total gross proceeds of
CDN$1,052,158.86.
The Shares represent approximately 13.81% 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 nine month period ended September 30, 2019.
Before the sale, Kingsway held 3,011,447 common shares
representing approximately 13.81% of the total issued and
outstanding common shares of Itasca. Following the sale, Kingsway
no longer holds any 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 the future as it deems appropriate in light of
the circumstances then existing.
Itasca's head office is located
at: 1800 - 510 West Georgia Street, Vancouver, British Columbia, V6B 0M3.
Additional Information
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.
SOURCE Kingsway Financial Services Inc.