JJR VI ACQUISITION CORP. ANNOUNCES SUBMISSION OF FILING STATEMENT
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES/
TSX VENTURE EXCHANGE: JVI.P
TORONTO, Dec. 16 /CNW/ - JJR VI Acquisition Corp. ("JJR VI") (TSX Venture: JVI.P) announces that it has filed a filing statement dated December 16, 2010 (the "Filing Statement") with the TSX Venture Exchange (the "Exchange") with respect to a proposed merger of Atlas Acquisition Corp., a Delaware corporation and wholly-owned subsidiary of JJR VI with and into American Insurance Acquisition Inc. ("AIAI"), a Delaware corporation which is an indirect wholly-owned subsidiary of Kingsway Financial Services Inc. ("KFS"), an Ontario corporation. AIAI will be the surviving company and will become a subsidiary of JJR VI, which will be known as Atlas Financial Holdings, Inc. AIAI is a holding company of two operating property and casualty insurance companies, American Country Insurance Company ("ACIC") and American Service Insurance Company, Inc. ("ASI"), incorporated under the laws of Illinois. Subject to the Exchange's approval and pursuant to Exchange Policy 2.4, the transaction shall constitute JJR VI's Qualifying Transaction. The Exchange conditionally approved the Qualifying Transaction and the listing of the resulting issuer. Details of the proposed transaction are contained in the Filing Statement which has been filed on SEDAR at www.sedar.ca. The closing date for the transaction is expected to occur on December 31, 2010, or such other date as the parties may agree and is subject to regulatory approval by the Illinois Department of Insurance and the fulfillment of conditions required by the Exchange.
Investors are cautioned that trading in the securities of a Capital Pool Company ("CPC") should be considered highly speculative.
Notice on forward-looking statements:
This release includes forward-looking statements regarding JJR VI, AIAI and their respective subsidiaries and businesses. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release, including completion of the proposed transaction, may not occur and actual operating results could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including regarding the insurance industry, economic factors and the equity markets generally. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, JJR VI, AIAI and its subsidiaries undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
JJR VI is a capital pool company governed by the policies of the TSX Venture Exchange. JJR VI's principal business is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.
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.
For further information:
Jordan Kupinsky, Director of JJR VI Acquisition Corp. at 416-972-6574
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