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.
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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.
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 email@example.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