Lorne Park Capital Partners closes $2M acquisition of Crestridge Asset Management

News Release

LORNE PARK CAPITAL PARTNERS INC. CLOSES ACQUISITION OF CRESTRIDGE ASSET MANAGEMENT INC.

/NOT FOR DISTRIBUTION IN THE UNITED STATES, ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/

Toronto, Ontario (October 3, 2017) – Lorne Park Capital Partners Inc. (TSXV:LPC) (“LPCP”) is pleased to announce that further to its press release of September 29, 2017, it completed its previously announced acquisition of Crestridge Asset Management Inc. (“Crestridge”), an independent portfolio manager based in Toronto (the “Transaction”). The transaction is subject to TSX Venture Exchange acceptance of requisite regulatory filings.

LPCP indirectly acquired Crestridge in exchange for consideration of $1.35 million. On closing, LPCP paid $500,000 in cash and issued 500,000 common shares of LPCP at a deemed price of $0.40 per share, for an aggregate total deemed issue price of $200,000. Common shares issued pursuant to the Transaction are subject to a statutory four month and one day hold period ending February 3, 2018.

The LPCP will pay a further $300,000 in cash and $200,000 in common shares of LPCP issued at the 30-day VWAP upon the first anniversary of closing; and $150,000 in cash on the 18-month anniversary of closing, in each case subject to adjustment as provided in the share purchase agreement in respect of the Transaction.

Upon closing, Crestridge amalgamated with Bellwether Investment Management Inc. (“Bellwether”), and continued as a division of Bellwether.

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 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.

About Crestridge Asset Management

Crestridge Asset Management, a division of Bellwether Investment Management Inc., provides discretionary investment management for individuals, trusts and foundations. Crestridge manages client portfolios utilizing an investment philosophy which utilizes equity and fixed income investments as well as Exchange Traded Funds (ETFs).

For further information, please contact:
Robert Sewell
Chief Executive Officer
Lorne Park Capital Partners Inc.
bob.sewell@lpcp.ca
(905) 337-2227