TORONTO, Nov. 13, 2012 /CNW/ - Jaguar Financial Corporation ("Jaguar" or
the "Company") today reported results for its third quarter
ended September 30, 2012.
For the three months ended September 30, 2012, the Company reported net
income of $94,048 compared to a net loss of $5,106,403 in the third
quarter of 2011.
For the three months ended September 30, 2012, the Company generated a
net gain on investments of $232,042 compared to a net loss on
investments of $4,553,964 in the third quarter of 2011. The Company's
investment portfolio is classified as held for trading and recorded on
a fair value basis and will experience, at various times, unrealized
gains or losses based on equity market conditions.
Jaguar had cash and investments at fair value of $4,915.246 as
at September 30, 2012.
Jaguar is pleased to announce the appointment of Craig Rogers as Interim
Chief Financial Officer. Mr. Rogers is also Vice President of
Investment Banking at Northern Securities Inc. Mr. Rogers holds an
Honours Bachelor of Commerce (Finance) degree from the University of
Ottawa, and is a Chartered Financial Analyst.
The Hearing Panel of IIROC ("Hearing Panel") released its reasons for
its decision given on July 23, 2012 and the sanctions imposed on Vic
Alboini, the Chief Executive Officer of Northern Securities Inc.
("NSI") (including a two year suspension from registration in all
categories and an inability to be an Ultimate Designated Person in the
industry). NSI and Mr. Alboini have applied to the Ontario Securities
Commission ("OSC") for a hearing and review of the Hearing Panel's
decision and will also be applying to the OSC for a stay of the Hearing
Panel's sanctions pending the OSC decision on the appeal.
Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors.
The securities of Jaguar Financial Corporation are listed on the TSX
under the symbol "JFC".
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may
contain certain forward looking statements which involve known and
unknown risks, delays, and uncertainties not under Jaguar's control
which may cause actual results, performances or achievements of Jaguar
to be materially different from those implied by such forward looking
SOURCE: Jaguar Financial Corporation