News
TORONTO, ON (November 29, 2011) – Beacon Acquisition Partners, Inc. (“Beacon”) today announced that the common shares of Beacon (the “Beacon Shares” ) have been listed for trading on the Canadian National Stock Exchange (the “CNSX”) under the symbol “BAP”. The Beacon Shares were previously listed on the TSX Venture Exchange (the “TSX Venture”) until November 24, 2011.
As previously announced by Beacon, Beacon closed the acquisition of all the issued and outstanding shares of Allied Beacon Partners, Inc. effective on November 24, 2011 upon the delisting of the Beacon shares from the TSX Venture. All previously announced terms of the transaction remain the same.
The sole business of Beacon is its ownership of three companies in the financial services business in the United States, as described below.
Allied Beacon Partners, Inc. (“ABP”) is a full service financial services firm headquartered in Richmond, Virginia with representatives nationwide. Established in 1998, ABP provides wealth management solutions using some of the most comprehensive investment products available in the industry to-day. ABP currently has approximately 310 investment professionals and administrative employees. ABP is 100% owned by Beacon.
ABP is a member firm of the Financial Industry Regulatory Authority (“FINRA”), and is regulated by the Securities and Exchange Commission (The “SEC”) and various state securities and insurance agencies. ABP currently has in excess of $1.0 billion in client’s assets under management on its clearing broker platforms.
Allied Beacon Wealth Management, LLC (“ABWM”) is a Richmond, VA based, SEC registered wealth advisory providing customized financial advice to individuals, families and foundations. The firm has an open architecture that allows investment advisors to access top quality investment managers and customize each client’s portfolio to provide investment solutions that meet each investor’s short and long term needs. Beacon owns 90% of ABWM, with the remaining 10% owned by an individual investment advisor.
Allied Beacon Profitsharing Ventures, LLC (“Ventures”) , a Delaware company, was incorporated by Beacon to hold the broker warrants and profit participation rights that may be received as partial compensation for ABP’s investment banking and securities distribution activities. In many capital raising assignments a portion of the fee is paid with “broker warrants” that entitle ABP to purchase securities of the company that is raising capital. These broker warrants place ABP on the same side of the transaction with their investing clients. Management believes they provide significant appreciation potential as the issuing companies execute their growth strategies.
Beacon is pleased to announce its listing on CNSX (www.cnsx.ca). CNSX created the first new stock exchange in Canada in over 70 years . The exchange is fully recognized and regulated by the Ontario Securities Commission while operating across the country in compliance with the requirements of all provincial securities commissions. CNSX provides a well regulated market designed to foster liquidity, integrity and transparency.
The CNSX or any other regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release that has been prepared by management.
FOR FURTHER INFORMATION PLEASE CONTACT:
Robert P. Mather, Chairman and CEO 1-201-447-2486
James A. Hintz, President and CFO 1-804-521-7604