Hodgins Auctioneers announces Exchange Conditional Acceptance of Acquisition of Worldwide Auction Business

MELFORT, SK, Oct. 15, 2012 /CNW/ - Hodgins Auctioneers Inc. (HA-TSX.V) ("Hodgins") is pleased to announce that it has received TSX Venture Exchange conditional acceptance for the acquisition of www.taxlossauction.com and associated intellectual property rights and product marketing program (acquisition was announced on September 12^th).  www.taxlossauction.com is an internet based digital auction business model designed for the world wide consignment and sale of tax losses.  The acquisition is subject to several conditions including board of director's approval of the definitive purchase agreement.

About Hodgins Auctioneers Inc. Headquartered in Melfort, SK for more than 50 years, Hodgins Auctioneers is a provider of professional auction services. Hodgins is renowned for its experienced Auctioneers, award-winning promotions, dependable results and commitment to providing the ultimate marketplace for the sale of assets by auction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Hodgins Auctioneers Inc.

Grant Hodgins, CEO
Hodgins Auctioneers Inc.
Tel: [phone]
Fax: [phone]
Email: [email protected]
Website: www.hodginsauctioneers.com