Avenue Financial Corporation Announces Details Of Upcoming Product Launch And Completion Of 14,075,800 Units Of Private Placement.TORONTO -- Details of Upcoming Product Launch Avenue Financial Corporation ("Avenue")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. ) is pleased to announce details of the upcoming product launch by its affiliate Avenue Global Asset Management Inc. ("AGAM AGAM Ambiente Gas Acqua Monza SpA (Italian) "). AGAM will be offering, a Series of three Structured Shares on a rolling close basis to accredited investors through qualified Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , Counselors and Planners in select jurisdictions within Canada. The proceeds from the sale of the shares of AGAM are to be invested in partnership units of Avenue Global Investment Pools L.P. a Cayman Island Limited partnership ("AGIP") which in turn will invest in Portfolios managed by global alternative asset managers of international repute with the following investment criteria: AGAM Structured Shares seeks to achieve their investment objectives by investing in segregated underlying portfolio with the following features: Series A: - Van Global Hedge Fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" Advisors L.L.C. manages the underlying Portfolio - A multi-manager, multi-strategy enhanced fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. that tracks the performance and seeks to achieve a rate of return in excess of the Van Offshore Hedge Fund Index which has achieved a 15 year average annual return of 14.4% Series B: - Magnum Global Investments Ltd. manages the underlying Portfolio - A multi-manager, multi-strategy enhanced fund of funds that seeks growth oriented returns while maximizing long-term capital appreciation Series C: - Magnum Global Investments Ltd. manages the underlying Portfolio - A multi-manager, multi-strategy enhanced fund of funds that seeks moderate rates of returns with low volatility Commented Colin Berrie, President of AFC, "We are all very excited and confident about AGAM's Structured share offering. We feel this product offers tremendous opportunity for Canadian accredited investors and small institutions looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. access to outstanding alternative investment strategies within a tax efficient structure." Further Closing of Brokered Private Placement Toronto, September 29, 2004 - Avenue Financial Corporation ("Avenue")-TSX Venture Exchange "AFC" is pleased to announce it has closed on a further 2,631,900 units of its proposed offering of 20,000,000 units being sold at $0.10 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one common share at a price of $0.10 per share for a two year period. These securities are subject to a four-month hold period from the date of issuance of the securities. Avenue has now closed on 14,075,800 units of the proposed 20,000,000 units being offered for sale. Avenue is continuing with this private placement through Union Securities Ltd. About Avenue Financial Corporation Avenue Financial Corporation is a TSX Venture listed company listed company n → compañía cotizable listed company n → société cotée en Bourse listed company list n → which designs and develops innovative investment products for high net worth investors and select institutions. Through its international affiliates Avenue Financial plans to be a global administrator of both segregated and pooled managed fund products and services. Avenue Financial Corporation 95 Wellington St West, Suite 707 Toronto, Ontario M5J 2N7 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy of this release. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion