Olympia Financial Group Inc.Announces Acquisition of Investment Accounts from Community Trust Company
CALGARY, Alberta, August 3, 2021– (BUSINESS WIRE) – Olympia Financial Group Inc. (“Olympia“) (TSX: OLY) is pleased to announce that Olympia Trust Company (“Olympia Trust“) has entered into an asset purchase agreement under which, subject to the satisfaction of certain conditions, Olympia Trust will purchase substantially all of the investment accounts of self-directed registered plans currently administered by Community Trust Company (the”Transaction“).
Mr. Craig Skauge, President and CEO of Olympia Trust, said: “This acquisition of Community Trust Company further consolidates Olympia’s dominant position as Canada’s leading provider of self-directed registered plan investment accounts for those who wish to invest in securities and arms of private companies. long-term mortgages.
About Olympia Financial Group Inc.
Olympia conducts most of its operations through its subsidiary Olympia Trust Company, a no deposit trust company. Olympia Trust Company is licensed to carry on trust business in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New -Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts, provides currency exchange services, and services to businesses and shareholders. Olympia also offers private health benefit plans through its subsidiary Olympia Benefits Inc. and provides information technology services to exempt market brokers, registrants and issuers through its Exempt Edge division.
Olympia’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.
Statements regarding forward-looking information
Portions of this press release and other public statements of Olympia contain “forward-looking information” within the meaning of applicable Canadian securities laws, also referred to as “forward-looking statements”, which may not be based on data. historical fact. Whenever possible, words such as “will”, “plans”, “plans”, “objectives”, “continue”, “estimates”, “planned”, “anticipates”, “believes”, “intends”, “May”, and similar expressions or statements that certain actions, events or results “could”, “could”, “would”, “could” or “would” be taken, occur or be obtained, have been used to identify forward-looking information. Forward-looking statements contained in Olympia’s public disclosure include, without limitation, Olympia’s expectations of earnings, fee income, expense levels, general economic, political and market factors. North America and abroad, interest and exchange rates, global equity and capital markets, competitive activities, technological changes, changes in government regulations, unexpected legal or regulatory proceedings, catastrophic events and Olympia’s ability to enter into strategic transactions and other factors. In addition, this press release contains forward-looking statements regarding: (a) the terms and conditions of the Transaction; (b) whether the Transaction will be completed; and (c) whether the Transaction is completed and, if completed, the date on which the Transaction is completed;
All material assumptions used in forward-looking statements are based on management’s knowledge of current business conditions and expectations of future business conditions and trends, including knowledge of current interest rates and liquidity conditions affecting Olympia and the Canadian economy. Certain important factors or assumptions are applied by Olympia in its forward-looking statements, including, without limitation, factors and assumptions regarding interest and exchange rates, the availability of key personnel, the effect of competition, government regulation of its activities, computer failures or security. default, future capital requirements, market acceptance of its products, its operating cost structure, current tax regime and Olympia’s ability to obtain necessary third party and government approvals, optionally.
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Olympia Financial Group Inc.
Craig Skauge, Executive Vice President