Canada Brokerlink to Acquire Wessex Insurance Services' Shares.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--Dec. 19, 1996--CANADA BROKERLINK INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : CKK CKK Courtney Killed Kurt CKK Cyanogen Chloride ) Canada Brokerlink Inc. is pleased to announce that it has agreed to acquire all of the issued and outstanding shares of Wessex Insurance Services Ltd. of Calgary, Alberta. The purchase price is comprised of 1,250,000 common shares of the Corporation and $50,000 cash. Wessex Insurance brings two anchor locations in Calgary and represents written premiums in excess of $3.9 million. In addition, the principals of Wessex Insurance, Mr. John DeWit and Mr. Mike Santiago, both of Calgary, will assume key management roles within the Corporation. It is anticipated that the transaction will close on Dec. 31, 1996. The Corporation completed its initial public offering on Dec. 14, 1996, and has been advised that its common shares will commence trading on The Alberta Stock Exchange on Dec. 19, 1996. Canada Brokerlink Inc. is one of Canada's largest insurance brokerage management firms. The company currently has more than 25 managed and/or owned brokerages throughout Alberta, which have an annual gross written premium volume of approximately $25 million. -0- The Alberta Stock Exchange has neither approved nor disapproved information contained herein. CONTACT: Canada Brokerlink Inc. Rick Grass, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , 403/218-1300 |
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