News

Jennings Capital Expands to Atlantic Canada, Acquires Acadian Securities

Calgary, November 13, 2008 – Jennings Capital Inc (“Jennings”) announces it has entered into a share purchase agreement to acquire Acadian Securities Incorporated (“Acadian”), a Halifax-based investment dealer.  Founded in 1994, Acadian provides corporate finance, research analysis, fixed income and private client brokerage services. 

“We believe the mutual benefits of combining Acadian with Jennings are significant” stated Jennings’ Senior Vice President of Private Client Services, Sam Collins.  “This allows Acadian to expand the range of products and services available to their clients, and gives Jennings an established presence in Atlantic Canada”.  With this acquisition, Jennings now expands, as a national firm, to include offices in Western Canada, Toronto and Atlantic Canada.

“Jennings is an excellent fit for Acadian, and this completes our strategic plan initiated earlier this year” added David Beazley, Acadian’s President & CEO who will retire after the transaction.  “Our cultures are well aligned and they have a particularly impressive track record in the resource and energy sectors which will be beneficial to our region and clients.”

Investment Industry Regulatory Organization of Canada has approved the acquisition which will close on November 13, 2008.

About Jennings Capital Inc.

Jennings Capital Inc. is a Calgary, Alberta based independent privately held full service investment dealer.  The firm offers financial products and services to private and public corporations, institutional investors, individual investors and agencies in Canada, the United States and Europe.  During its 15 year history, Jennings has completed over $4 billion worth of transactions.  Jennings is proud to be allied with Western Financial Group Inc. (TSX-WES), an insurance, financial and banking services provider in western Canada.  http://www.jenningscapital.com

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