ORONTO, ONTARIO–(Marketwired – April 25, 2013) – Difference Capital Funding Inc. (“DCF”) (TSX VENTURE:DCF) is pleased to announce that subsequent to the April 19, 2013 release of its 2012 financial statements, certain insiders of DCF and key executives of DCF’s manager, Difference Capital Management Inc., including Michael Wekerle, Executive Chairman, Paul Sparkes, Executive Vice-Chairman, Neil Johnson, Chief Executive Officer, Henry Kneis, Chief Financial Officer and Chief Operating Officer, Jeffrey Kehoe, Managing Partner and General Counsel, Jamie Brown, Managing Partner, and Tom Astle, Head of Investment Strategy, have purchased in aggregate 10,625,000 common shares of DCF (“Common Shares” or “Shares”) through the facilities of the TSX Venture Exchange at prices between $0.35 and $0.425 per Share with a total value of approximately $4.4 million.
DCF management and Board now own, directly and indirectly, 80,859,051 Common Shares on a fully diluted basis, representing approximately 28% of the total outstanding Shares of DCF.
Michael Wekerle said of the purchases, “We are strong believers in DCF’s business model and its growth prospects and are extremely pleased with our recent results. With our increased shareholding, management is even more strongly aligned with DCF’s long-term growth.”
Michael Wekerle directly acquired 10,000,000 Common Shares in a single transaction at a price of $0.38 per Share. As a result of this acquisition, Michael Wekerle now owns, directly and indirectly, 66,557,591 Common Shares on a fully diluted basis, which represents approximately 23.2% of the total outstanding Common Shares. Michael Wekerle relied upon the exemption under section 100.1 of the Ontario Securities Act to make this purchase. Michael Wekerle’s office is located at 130 King Street West, Suite 2950, Toronto, Ontario M5X 1C7.
Michael Wekerle acquired the shares for investment purposes and he may in the future take such actions in respect of his holdings as deemed appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of DCF through open market purchases or privately negotiated transactions, or the sale of all or a portion of their holdings in the open market or in privately negotiated transactions to one or more purchasers.
About Difference Capital Funding Inc.
Difference Capital Funding Inc. is a public-listed, Toronto-based merchant bank focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as opportunistic investments in undervalued financial assets and real property.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the proposed transactions and neither of the foregoing entities has approved or disapproved of the contents of this press release.
Difference Capital Funding Inc.
Chief Executive Officer
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