Toronto, Ontario--(Newsfile Corp. - February 21, 2023) - Lorne Park Capital Partners Inc. (TSXV: LPC) ("Lorne Park" or the "Company") is pleased to announce that it has been named as one of the top performers on the TSX Venture Exchange (the "TSXV" or "the Exchange").
The 2023 TSX Venture 50TM celebrates the strongest performances on the TSXV over the last year. Comprised of 10 companies from each of five industry sectors, the ranking recognizes the strongest performance on the Exchange based on market capitalization growth, share price appreciation and trading volume.
Lorne Park ranked number seven in the diversified industries stocks in the 2023 TSX Venture 50TM, which is comprised of the top 50 from over 1,700 companies on the TSX Venture Exchange. More details on the 2023 TSX Venture 50TM and a video highlighting Lorne Park can be found at http://www.tsx.com/venture50.
The Company, through its wholly-owned subsidiary, Bellwether Investment Management Inc. ("Bellwether"), has methodically executed its growth strategy for the last decade, developing a track record of successfully integrating and growing wealth management businesses. By partnering with like-minded portfolio managers and family wealth advisors, Bellwether has built a robust offering that provides clients with a range of cost effective public and private market investment solutions. Bellwether continues to build an extensive network of advisors that serve the needs of affluent families in many major centers across Canada.
On December 30, 2022, the Company completed the acquisition of 80% of Promus Asset Management, LLC, a Texas limited liability company registered with the Securities and Exchange Commission as an investment advisor, providing the Company with a footprint to further expand its service offerings across North America.
"It is an honour to be included in the TSX Venture 50," said Robert Sewell, President and CEO. "We have also been recognized this past year as one of Canada's top growing companies for 2022 by the Globe and Mail and one of the America's fastest growing companies by the Financial Times. It is great to see that our operational execution and capital markets progress continue to be recognized." Mr. Sewell continued, "These awards are the result of the outstanding performance and high level of execution from our team, and the support of our valued clients. We look forward to even more growth in our business and value creation for our shareholders ahead."
The Company saw appreciation in 2022 from a share price of $0.80 and market capitalization of $42 million on December 31, 2021 to a share price of $1.30 and market capitalization of $70 million on December 31, 2022.
About Lorne Park Capital Partners Inc.
Lorne Park was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost effective investment solutions to affluent investors, foundations, estates and trusts. Lorne Park's unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.
About Bellwether Investment Management Inc.
Bellwether is a boutique investment manager that offers tailored investment solutions for affluent investors, foundations, estates and trusts utilizing its proprietary "Disciplined Dividend Growth" Investment Process. Bellwether provides discretionary investment management focused on North American Dividend Growth investing and is dedicated to serving the distinct needs of affluent families. Bellwether's suite of investment solutions includes Canadian, US and global equity and fixed income strategies. Bellwether is a subsidiary of Lorne Park, and is registered as a portfolio manager in Alberta, British Columbia, Manitoba, Nova Scotia, Ontario, Quebec and Saskatchewan, an exempt market dealer in Alberta, Ontario and Quebec, and an investment fund manager in Ontario and Quebec.
About Promus Asset Management, LLC
Promus is an award-winning wealth management firm based in Dallas, Texas and registered with the Securities and Exchange Commission as an investment advisor.
For further information, please contact:
Robert Sewell
Chief Executive Officer
Lorne Park Capital Partners Inc.
investor.relations@lpcp.ca
(905) 337-2227
Cautionary Notes
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.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "plan", and other similar expressions. Forward looking information in this news release includes, without limitation, Lorne Park's objectives, goals and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management's current expectations, estimates, projections and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of the amalgamation and regulatory approvals. Management of Lorne Park considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, changes in economic conditions, applicable laws or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. Lorne Park disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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