Jovian Capital intends to raise C$25 million in private placement of stock

By Sheri Kasprzak

New York, Oct. 26 - Jovian Capital Corp. said it is in negotiations for a C$25 million private placement.

The pricing details of the proposed offering have not yet been determined, but the deal is expected to close in November.

Genuity Capital Markets and MGI Securities Inc. are the placement agents.

Proceeds from the deal will be used for future acquisitions, debt repayment and internal growth.

Based in Toronto, Jovian is a wealth- and asset-management firm.

The company's stock slipped C$0.05, or 5.88%, to close at C$0.80 Wednesday.

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