15 November 2017News

Till Capital to sell Canadian insurance subsidiary

Bermuda-domiciled Till Capital has signed two engagement agreements with two different and undisclosed investment banking firms for the sale of its wholly-owned Canadian subsidiary Omega Insurance Holdings, and its Springer Tungsten Mine and Mill Complex located in Pershing County, Nevada.

Till Capital stated that although potential buyers have been identified, no definitive agreement for the sale of either of these assets has been reached, nor can any assurances be given as to the potential outcome or timing of any transaction, should it occur.

The company added that it does not intend to disclose or comment on developments related to these processes unless and until the board has approved a specific transaction or otherwise determined that further disclosure is appropriate.

Till's management and board of directors believe that the sale of Holdings and the Springer Project will allow Till to focus on increasing shareholder value and its original business strategy. Further details regarding the impact of those sales may be found in the Company’s third-quarter filings on EDGAR and SEDAR.




More on this story

News
2 December 2016   Till Capital (Till), a Bermuda-based company that owns Omega Insurance Holdings and Resource Re, has initiated a new normal course issuer bid (NCIB) and intends to bid for up to 262,860 common shares, representing 10 percent of the 2,628,600 shares forming Till's public float.
News
15 November 2016   Till Capital, a Bermuda-based insurer, has added Patricia Tilton and George Rohlinger to its board of directors as independent directors.
News
21 March 2016   Till Capital, the Bermuda-based parent firm of Omega Insurance Holdings and Resource Re, has appointed Brian Lupien as chief financial officer (CFO) and Weiying Zhu as treasurer.