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Heritage Global Inc. Acquires National Loan
Exchange, Inc., North America’s Leading Charged-off Receivables Broker

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SAN DIEGO, California, and EDWARDSVILLE, Illinois (June 3, 2014) – Heritage Global Inc. (OTCQB: HGBL; CSE: HGP) (“Heritage Global” or the “Company”), a global leader in distressed and surplus asset valuations and monetization transactions, has acquired National Loan Exchange, Inc. (NLEX), the largest volume broker of charged-off receivables in the US and Canada. Its offerings include national, state and regional portfolios on behalf of many of the world’s top financial institutions.

NLEX will operate as a wholly owned division of Heritage Global, further expanding and diversifying its comprehensive distressed asset offerings. Prior to this transaction NLEX had been operating exclusively as a broker/agent. Subsequent to the acquisition, NLEX will also be acting as a principal, capitalizing upon Heritage Global’s extensive human and financial resources. It is expected that all NLEX employees will remain with the organization. Additional terms of the agreement were not disclosed.

Heritage Global Managing Partner Ross Dove stated, “The National Loan Exchange acquisition underscores Heritage Global’s strategy of building a world-class company that can handle all forms of asset dispositions both domestically and internationally. NLEX has been a pioneer in distressed assets dating back to the 1980s when its parent company created an open market for the Resolution Trust Company assets. For more than two decades they have also been known as a leading broker of charged-off receivables. Their NLEX Electronic Auction Platform revolutionized the market for charged-off assets, creating enhanced liquidity for lenders.

“Since the introduction of NLEX’s auction platform in 2000, it has generated in excess of $150 billion face value sales covering more than 5,000 dispositions of performing, non-performing and charged-off assets. Adding a distressed financial assets division to our auction and appraisal capabilities is a logical progression for Heritage Global. We expect NLEX’s top- and bottom-line financial contributions to enhance our overall operating results and be a source of consistent, sustainable earnings.”

National Loan Exchange President David Ludwig stated, “Teaming with Heritage Global is an excellent fit as we both have similar mindsets regarding the valuation and disposition of distressed assets. The addition of our company’s financial focus and experience to Heritage’s wealth of surplus capital asset expertise is a clear win-win for our respective customers and also provides both organizations with numerous operating synergies to exploit.”

In addition to sale services, through its affiliate Solutions Management Group International, LLC, NLEX also helps clients optimize portfolio presale performance by utilizing a network of the world’s premier service providers

 

About Heritage Global Inc. (www.heritageglobalinc.com)

Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is a value-driven, innovative leader in distressed and surplus asset and enterprise valuations and monetization transactions. The Company focuses on identifying, valuing, acquiring and monetizing distressed and surplus assets in 25 global manufacturing and technology sectors. It specializes in acting both as an advisor as well as principal in the acquisition and monetization of turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related intellectual property.

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address the Company’s expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of the factors listed herein, as well as other factors beyond the Company’s control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in the Company’s securities and other regulatory filings.

Contact:

Stephen A. Weintraub
Executive Vice President, Secretary & CFO
sweintraub@counselcorp.com or 416/866-3058

Robert Rinderman or Jennifer Neuman
JCIR
HGBL@jcir.com or 212/835-8500

# # #

 

SunEdison Semiconductor Limited Selects
Heritage Global Partners to Manage Disposition of its State-of-the-Industry Polysilicon Production Plant in Merano, Italy

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SunEdison Semiconductor Limited Selects Heritage Global Partners to Manage Disposition of its State-of-the-Industry Polysilicon Production Plant in Merano, Italy

Heritage Global Partners to Participate in the Intersolar Europe Conference in Munich, Germany on June 4-6

 

SAN DIEGO, California, MUNICH, Germany and MERANO, Italy – June 3, 2014 – Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL and CSE: HGP), today announced that it has been retained by MEMC Electronic Materials SpA, a SunEdison Semiconductor Limited company, to secure an enterprise buyer for the entirety of its proven polysilicon production processes in Merano, Italy. SunEdison Semiconductor Limited develops, manufactures, and sells silicon wafers to the semiconductor industry.

 

Heritage Global Partners is now accepting offers for SunEdison’s facility. For more detailed information, interested buyers are invited to visit Heritage Global Partners at the Intersolar Europe Conference in Munich, Germany June 4-6 at the Messe München (Hall: A1 / Booth: 611A). Prospective buyers may also learn more about this unique opportunity by visiting www.hgpauction.com or by contacting David Barkoff of Heritage Global Partners (contact information below).

 

“Polysilicon is rapidly growing again and we are seeing sharp increases in overall demand as the semiconductor industry starts its rebound and the volume of PV installations begins to rise globally. Someone in the PV world is eventually going to emerge as a serious player and the availability of a turnkey, high quality production facility such as SunEdison’s can only be an advantage to forward thinkers in this industry,” stated David Barkoff, Director of Sales at Heritage Global Partners.

 

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment, real estate auctions, and much more. HGP is a subsidiary of publicly traded Heritage Global Inc.

 

Contact:

David Barkoff, dbarkoff@hgpauction.com, 650/649-0147

Jennifer Neuman, JCIR, HGP@jcir.com, 212/835-8500

# # #

Heritage Global Partners to Conduct Largest
North American Apparel Manufacturing Auctions of
2014 Beginning June 4-6

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Two Global Online Auctions featuring over 3,000 Sewing Machines, Facility and Support Equipment, Raw Materials, Finished Goods Inventory, and much more

Sale Resulting from Closure of the 500,000 sq. ft. US Sewing Facilities of Riverside Manufacturing Company

SAN DIEGO & MOULTRIE, Ga.–()–Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL and CSE: HGP), today announced that it will manage a series of sales for Riverside Manufacturing Company, a leading provider in the industrial work wear industry. This auction covers the complete removal of assets from its US sewing plants and related cutting and warehousing on Riverside’s corporate campus located in Moultrie, Georgia. The sale is a result of Riverside’s decision to close its US sewing operations in favor of manufacturing by contractor partners. Riverside’s home office remains in Moultrie, Georgia and it will continue to service and supply its customers through its national sales force and facilities located in Atlanta, Georgia and the Dominican Republic.

“HGP is conducting the year’s largest sale of apparel manufacturing assets in North America, by far. We have a great selection of industrial machinery and equipment and encourage interested bidders to review the upcoming inventory on our website as the full catalog will be available soon.”

Riverside Manufacturing Company Sale #1

June 04, 2014 (7 am ET) June 06 (10 am ET)

Apparel Equipment/Facility Public Preview: June 02, 2014 – June 03 (9 am – 5pm) at 1301 West Central Avenue, Moultrie, GA 31768 or by appointment (contact Ty Lindley with questions or information)

Key Assets:

  • 3,000 sewing machines covering every make and model (major brands)
  • Gerber fabric plotting, spreading, and cutting equipment
  • Tajima embroidery machines
  • Seaming, pressing, and steam equipment (major brands)
  • Generators, fork lifts, air compressors, vacuum pumps, trucks, and other support equipment
  • $700K+ of original cost sewing machine parts
  • $900K+ of original cost excess fabrics and textiles
  • Over $4.5 million of original cost discontinued /excess finished jackets, shirts, pants, and other apparel

“We anticipate strong demand from worldwide buyers as the upcoming auctions of Riverside’s manufacturing plant assets includes an unprecedented offering of high-quality industrial sewing machines and apparel manufacturing equipment from leading brands, raw materials and discounted/excess finished goods inventory,” stated Ty Lindley, Heritage Global Partners Director of Sales.

“HGP is conducting the year’s largest sale of apparel manufacturing assets in North America, by far. We have a great selection of industrial machinery and equipment and encourage interested bidders to review the upcoming inventory on our website as the full catalog will be available soon.”

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. Learn more at www.hgpauction.com.

 

Contacts

For Heritage Global Partners
Ty Lindley, 858/847-0653
tlindley@hginc.com
or
Jennifer Neuman, 212/835-8500
HGP@jcir.com

SAN DIEGO & LOS ANGELES–(BUSINESS WIRE) –
Heritage Global Partners

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SAN DIEGO & LOS ANGELES–()–Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL CSE: HGP), today announced that it has been selected to manage the upcoming complete plant liquidation of a Deluxe Entertainment Services Group Inc. facility in Los Angeles, CA. The three-day sale, including equipment from 18 different asset classes, is slated for June 3-5, with a public preview on June 2.

“The three-day Deluxe Entertainment global online auction truly has something for everyone, including equipment across many different asset classes”

Deluxe – Complete LA Plant Liquidation Auction

June 3, 2014 (7 am PT) June 5 (10 am PT)

Plant Sale (5433 Fernwood Avenue, Los Angeles, CA) – Public Sneak Preview on June 2 (9 am – 5 pm)

Key Assets:

  • Complete Film Processing Lines
  • Complete Film Printing Lines
  • Post-Production Suites
  • Packaging Equipment
  • Analytical Lab
  • Tanks and Vessels
  • Pumps and Motors
  • Complete Machine Shop
  • State-of-the-Art IT Equipment and Server Room
  • 300+ Executive Offices and Workstations
  • Corporate Cafeteria
  • Wide Array of Facility Support Equipment and Scrap Metal

“The three-day Deluxe Entertainment global online auction truly has something for everyone, including equipment across many different asset classes,” stated Nick Dove, Heritage Global Partners Director of Sales. “Deluxe has been a global leader in the digital and film processing fields for close to a century. Complete film processing and printing lines, post-production suites, packaging equipment and an analytical lab are all part of our online auction. In addition, the facility support including boilers, chillers, compressors and electrical paneling are also for sale,” concluded Mr. Dove.

A second auction will be held in July, featuring facility support-related equipment that will no longer be needed as the building will be demolished following the liquidation sale.

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.

 

Contacts

For Heritage Global Partners
Nick Dove, ndove@hgpauction.com, 858/847-0659
or
Rob Rinderman, HGP@jcir.com, 212/835-8500

Heritage Global Inc. (CSE:HGP) (OTXQB:HGBL)
Lists on Canadian Securities Exchange

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Vancouver, BC, April 29, 2014 – Heritage Global Inc. (CSE:HGP) (OTXQB:HGBL) is one of the latest new listings on the Canadian Securities Exchange, and is trading under the symbol “HGP”.  The company also trades on the OTCQB under the symbol HGBL.

InvestmentPitch.com has produced a “video news alert” which provides a brief overview of the company.  If this link is not enabled, please visit www.InvestmentPitch.com and enter “Heritage” in the search box.

Counsel Corporation (TSX:CXS), through a special dividend-in-kind, transferred its entire holdings of 20.6 million shares or 73.3% ownership of Heritage Global to its shareholders of record on April 1, 2014.

Allan Silber, Chairman of both Heritage Global and Counsel stated, “We are very pleased to have Heritage Global’s shares listed on the CSE. We have been able to deliver value to Counsel’s shareholders while also enabling us to move towards a single focus on our financial services business.”

As the majority of Counsel’s shareholders are located in Canada, this new listing on the CSE is expected to enhance the liquidity of the shares they receive.

Heritage Global Inc. is a value-driven, innovative leader in distressed and surplus capital assets valuations and transactions. The company, through a number of wholly-owned subsidiaries, focuses on identifying, valuing, acquiring and monetizing distressed and surplus capital assets in twenty-five global manufacturing and technology sectors. It specializes in both acting as an advisor as well as acquiring turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related intellectual property.

The company principal operating segment, its asset liquidation business, is handled by Heritage Global LLC. Another subsidiary, Equity Partners HG LLC, is a boutique investment banking firm and provider of financial solutions for distressed businesses and properties. Through Heritage Global Partners UK, the company has offices in the United Kingdom, Germany and Spain.

The shares are trading at US$0.67 on the OTCQB, and with 28.2 million shares outstanding, the company is capitalized at $18.9 million.

For more information, please visit the company’s website, www.heritageglobalinc.com or contact Stephen Weintraub at 416-866-3058 or email sweintraub@counselcorp.com

The company’s investor relations is handled by Renee Lam TMX Equicom, who can be contacted at 416-815-0700, ext. 258 or by email at rlam@tmxequicom.com.
Read more at http://www.stockhouse.com/news/press-releases/2014/04/29/heritage-global-inc-cse-hgp-otxqb-hgbl-lists-on-canadian-securities-exchange#9TXZpVFUAGXBi0pR.99

Heritage Global Partners Appointed to Manage
Mobile PET/CT Imaging Fleet Global Online Auction on May 27-28

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SAN DIEGO & DELRAY BEACH, Fla., Apr 28, 2014 (BUSINESS WIRE) — Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (otcqb:HGBL), today announced that it will manage a global online auction of a unique, mobile fleet of PET and CT imaging equipment and trailers on behalf of Radiology Corporation of America on May 27-28.

Mobile Fleet PET/CT Radiology Equipment/Trailer Auction  
May 27, 2014 ( 7 am ET ) May 28 ( 10 am ET
Equipment Fleet Sale Sneak Preview: May 26 at locations in FL, TX, OR and MD, or by appointment (contact Nick Dove with questions or information regarding exact addresses)

Key Assets:

  • 2001 Landoll Corp Trailer with 2001 GE PET NXI Scanner
  • 2003 Landoll Corp Trailer with 2003 GE DST -4PET/CT Scanner
  • 2004 Landoll Corp Trailer with 2004 GE DST -4PET/CT Scanner
  • 2004 Stanton SCH61 Trailer with 2004 Siemens Biograph Duo Scanner
  • 2005 Landoll Corp Trailer with 2006 Siemens Biograph Duo Scanner
  • 2003 Peterbilt 9000s Tractor
  • 2000 International Tractor 9400I
  • 1999 International Tractor 9400I

“For any worldwide organizations involved in mobile PET and CT imaging, our upcoming auction featuring a unique mobile fleet of PET and CT imaging equipment will be of significant interest. There is also an opportunity to de-couple the imaging machines from the mobile trailers should a prospective buyer prefer to utilize the GE or Siemens Scanners at a medical facility or office,” stated Nick Dove, Heritage Global Partners Director of Sales. “Also included in the key assets being sold (May 27-28) we have two International brand and one Peterbilt tractor that do not have mobile equipment installed.”

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.

SOURCE: Heritage Global Partners

Heritage Global Partners
Nick Dove, 858-847-0659
ndove@hgpauction.com
or
Rob Rinderman, 212-835-8500
HGP@jcir.com

Copyright Business Wire 2014

Heritage Global Partners Appointed to Manage
Global Private Treaty Sale of Maintenance Railway Locomotives

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SAN DIEGO & BARCELONA, Spain–()–Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB:HGBL), today announced that it has been retained to manage the upcoming sale of four maintenance railway locomotives, which are presently located in Spain. Bids are being accepted for these well maintained railway transportation assets. The Railway Locomotive Global Private Treaty Sale is scheduled to end June 18, 2014 at 10 am CET.

“We expect the sale of these quality transportation assets to appeal to a very wide range of potential buyers.”

Additional details and specifications regarding the four COMSA Rail Transport & GMF maintenance railway locomotives are contained in three below links.

“Heritage Global’s unique global private treaty sale features four maintenance locomotives that can be utilized by railway organizations around the world,” stated Heritage Global Partners, Head of Sales Spain, Miguel Garcia. “We expect the sale of these quality transportation assets to appeal to a very wide range of potential buyers.”

In the case of international buyers, Heritage Global Partners is pleased to offer our valued customers full-service shipping and logistics services. Our seasoned staff, including riggers and shipping agents, will assist purchasers by remaining on-site to ensure that all necessary paperwork, documents and shipping arrangements are handled in a smooth and efficient manner. HGP has conducted thousands of capital asset transactions and plant closures and is uniquely skilled in all nuances of the transition from seller to buyer.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more. HGP is a subsidiary of Heritage Global Inc.

Contacts

Heritage Global Partners
Miguel Garcia, +34 622 230 290 (mobile)
mgarcia@hgpsubasta.com
via Skype: mgarciabcn
or
JCIR
Robert Rinderman or Jennifer Neuman, 212-835-8500
HGP@jcir.com

Heritage Global Partners and Cloud Investment
Partners to Manage the Sale of Lufthansa Technik Airmotive Ireland (LTAI)

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Heritage Global Partners and Cloud Investment Partners to Manage the Sale of Lufthansa Technik Airmotive Ireland (LTAI) Dublin Plant Assets

LTAI Selects HGP and Cloudto Conduct the Sale on behalf of E-AuctionsGlobal Online Auction Runs April 30 to May 1

SAN DIEGO & DUBLIN, Mar 27, 2014 (BUSINESS WIRE) — Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (otcqb:HGBL), today announced that it is collaborating with Cloud Investment Partners , a global organization with expertise in the aerospace industry, to manage a global online sale featuring the entire assets of the Lufthansa Technik Airmotive (LTAI) Plant in Dublin, Ireland. Per the instruction of LTAI, HGP and Cloud are conducting the sale on behalf of Irish based Auctioneering Company, E-Auctions . LTAI refurbished jet aircraft engines at this location.

Lufthansa Technik Airmotive Ireland Auction April 30, 2014 ( 9 am GMT ) May 1 ( 5 pm GMT ) Sale Preview: April 29 (LTAI Plant – Naas Road, Rathcoole, Co. Dublin, Ireland) 9 am – 4 pm (local time)

Key Assets Include:

  • Huge Inventory of LLP, Non LLP, and Expendable Engine parts
  • Engine Test Cell with Tooling, Bellmouths, Fixtures, etc.
  • Complete Tooling sets for CFM56-3 & JT9D
  • Complete Machine Shops
  • Generators
  • Borers
  • Milling Machines
  • Schenk Balancing Machines
  • Steel Framed Portable Building
  • Relocatable Office/Canteen Buildings
  • IT Equipment
  • Office Furnishings

“Our sale of LTAI’s assets features a wide range of engineering, inspection, test equipment, works transport, and many more items ideal for organizations in aerospace or other manufacturing industries. We are also selling assets that can be utilized by any number of companies or individual buyers including furniture and IT equipment,” stated Ross Dove, Managing Director, Heritage Global Partners.

David Weiss, Partner of Cloud Investment Partners, stated, “Heritage and Cloud Investment Partners successfully sold other Engine MRO assets including AVEOS and LTQ (Lufthansa Qantas JV) in the last 18 months. We are pleased to have the opportunity to maximize the value of Lufthansa’s Irish Facility assets.”

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.

SOURCE: Heritage Global Partners

Chris Matthews, +44 753 845 9839 cmatthews@hgpauction.com David Weiss, 561-266-0845 x119 david.weiss@cloudlllp.com Kieron Gammell, +353 45 883 554 kgammell@e-auctions.ie Rob Rinderman, 212-835-8500 HGP@jcir.com

Copyright Business Wire 2014

Heritage Global Partners and Cloud Investment Partners to Manage the Sale of Lufthansa Technik Airmotive Ireland (LTAI) Dublin Plant Assets

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LTAI Selects HGP and Cloud to Conduct the Sale on behalf of E-Auctions

 Global Online Auction Runs April 30 to May 1

 

SAN DIEGO, California and Dublin, IRELAND – March 27, 2014 – Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL), today announced that it is collaborating with Cloud Investment Partners, a global organization with expertise in the aerospace industry, to manage a global online sale featuring the entire assets of the Lufthansa Technik Airmotive (LTAI) Plant in Dublin, Ireland. Per the instruction of LTAI, HGP and Cloud are conducting the sale on behalf of Irish based Auctioneering Company E-Auctions. LTAI refurbished jet aircraft engines at this location.

 

Lufthansa Technik Airmotive Ireland Auction

April 30, 2014 (9 am GMT) May 1 (5 pm GMT)

Sale Preview: April 29 (LTAI Plant – Naas Road, Rathcoole, Co. Dublin, Ireland) 9 am – 4 pm (local time)

 

Key Assets Include:

  • Huge Inventory of LLP, Non LLP, and Expendable Engine parts
  • Engine Test Cell with Tooling, Bellmouths, Fixtures, etc.
  • Complete Tooling sets for CFM56-3 & JT9D
  • Complete Machine Shops
  • Generators
  • Borers
  • Milling Machines
  • Schenk Balancing Machines
  • Steel Framed Portable Building
  • Relocatable Office/Canteen Buildings
  • IT Equipment
  • Office Furnishings

 

“Our sale of LTAI’s assets features a wide range of engineering, inspection, test equipment, works transport, and many more items ideal for organizations in aerospace or other manufacturing industries. We are also selling assets that can be utilized by any number of companies or individual buyers including furniture and IT equipment,” stated Ross Dove, Managing Director, Heritage Global Partners.

 

David Weiss, Partner of Cloud Investment Partners, stated, “Heritage and Cloud Investment Partners successfully sold other Engine MRO assets including AVEOS and LTQ (Lufthansa Qantas JV) in the last 18 months. We are pleased to have the opportunity to maximize the value of Lufthansa’s Irish Facility assets.”

 

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.

 

Contacts:

Chris Matthews, cmatthews@hgpauction.com, +44 753 845 9839

David Weiss, david.weiss@cloudlllp.com, 561/266-0845 x119

Kieron Gammell, kgammell@e-auctions.ie, +353 45 883 554

Rob Rinderman, HGP@jcir.com, 212/835-8500

# # #

Heritage Global Inc. announces intent
to apply to list shares on the Canadian Stock Exchange

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TORONTO, March 24, 2014 /CNW/ – Heritage Global Inc. (“Heritage Global” or the “Company”) (OTCQB: HGBL), a leader in distressed and surplus capital assets valuations and transactions, announces its intention to apply to list its shares on the Canadian Stock Exchange (“CSE”) and anticipates that such listing, if approved, can occur prior to April 30, 2014. According to the CSE, the application review and approval process for listing can take as few as 15 to 20 business days.

The Company expects that listing on the CSE will enable its shares to be considered a “qualified investment” for a registered retirement savings plan, registered retirement income fund, tax-free savings account, deferred profit sharing plan, registered education savings plan or registered disability savings plan for the purposes of the Income Tax Act (Canada) as of the time of listing.

On March 20, 2014, Counsel Corporation (“Counsel”) (TSX: CXS), the Company’s 73.3% owner, announced that its board of directors had declared a special dividend-in-kind (the “Special Dividend”) of Counsel’s entire holding of 20,644,481 common shares of Heritage Global. The Special Dividend will be paid on or about April 30, 2014 to shareholders of record as at April 1, 2014. As the majority of Counsel’s shareholders are located in Canada, listing on the CSE is expected to enhance the liquidity of their shares.

About Heritage Global Inc. (www.heritageglobalinc.com)

Heritage Global Inc. (OTCQB: HGBL) is a value-driven, innovative leader in distressed and surplus capital assets valuations and transactions. The Company focuses on identifying, valuing, acquiring and monetizing distressed and surplus capital assets in twenty-five global manufacturing and technology sectors. It specializes in both acting as an advisor as well as acquiring turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related intellectual property.

About Counsel Corporation (www.counselcorp.com)

Counsel Corporation (TSX: CXS) is a financial services company operating in residential mortgage lending through its wholly owned subsidiary Street Capital Financial Corporation, one of the largest non-bank mortgage lenders in Canada.

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address the Company’s expectations, including those relating to the Special Dividend and the listing of Heritage Shares on the CSE, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of the factors listed herein, as well as other factors beyond the Company’s control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in the Company’s securities and other regulatory filings.

SOURCE Counsel Corporation

/CONTACT: Stephen A. Weintraub

Executive Vice President, Secretary & CFO

sweintraub@counselcorp.com or 416/866-3058 Ren Lam

TMX Equicom

rlam@tmxequicom.com, or 416-815-0700, ext. 258

Copyright CNW Group 2014
The Wall Street Journal news department was not involved in the creation of this content.