Toronto, Ontario--(Newsfile Corp. - April 1, 2025) - Lorne Park Capital Partners Inc. (TSXV: LPC) ("LPCP" or the "Corporation") is pleased to announce that it has, through its wholly-owned subsidiary Bellwether Investment Management Inc. ("Bellwether"), closed an acquisition of 100% of the outstanding securities of W.H. Shutt & Associates Inc. (the "Acquiree"), an Ontario corporation that holds approximately $190 million in assets under management, all of which are currently being managed by Bellwether (the "Transaction").
The Acquiree was owned in part by William Shutt, a financial advisor who has been with Bellwether for over five years. Mr. Shutt and his team will become employees of Bellwether and will continue the high standards of service and dedication their clients expect.
Bellwether acquired all of the outstanding securities of the Acquiree in exchange for consideration of $6,500,000, to be paid by Bellwether as follows: $4,000,000 on closing, and $833,333 in each of the following 3 years, subject to adjustment based on the trailing 12-month revenue. The Transaction is at arm's length and no securities are being issued by LPCP in connection with the Transaction.
About Lorne Park Capital Partners Inc.
LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost-effective investment solutions to affluent investors, foundations, estates and trusts. LPCP's unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.
About Bellwether Investment Management Inc.
Bellwether is a boutique investment manager that offers tailored investment solutions for affluent investors, foundations, estates and trusts utilizing its proprietary "Disciplined Dividend Growth" Investment Process. Bellwether provides discretionary investment management focused on North American Dividend Growth investing and is dedicated to serving the distinct needs of affluent families. Bellwether's suite of investment solutions includes Canadian, US and global equity and fixed income strategies. Bellwether is a subsidiary of LPCP, and is registered as a portfolio manager in Alberta, British Columbia, Manitoba, Nova Scotia, Ontario, Quebec and Saskatchewan, an exempt market dealer in Alberta, Ontario and Quebec, and an investment fund manager in Ontario and Quebec.
For further information, please contact:
Robert Sewell
Chief Executive Officer
Lorne Park Capital Partners Inc.
investor.relations@lpcp.ca
(905) 337-2227
Cautionary Notes
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "plan", and other similar expressions. Forward looking information in this news release includes, without limitation, LPCP's objectives, goals and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management's current expectations, estimates, projections and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of the amalgamation and regulatory approvals. Management of LPCP considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, changes in economic conditions, applicable laws or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. LPCP disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
/NOT FOR DISTRIBUTION IN THE UNITED STATES, ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246561
SOURCE: Lorne Park Capital Partners Inc.
