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Press Information:
Toronto - November 2, 2005
ACCORD FINANCIAL CORP.
Accord Announces Acquisition of i
Trade Finance Inc.
Accord Financial Corp. (TSX – ACD) is pleased
to announce that it has acquired 100% of i Trade Finance
Inc., a small Ontario based finance company specializing
in international trade finance. Cash consideration was
approximately $1.6 million. As a result of the acquisition,
Accord will recognize an extraordinary gain of approximately
$0.8 million in the current quarter, which represents
the excess of the fair value of net assets acquired
over the consideration paid.
Accord is a leading North American provider of a wide
range of factoring and other asset-based financial services
to businesses, including financing, collection services,
credit investigation, credit protection and guarantees.
For further information please contact:
Stuart Adair
Chief Financial Officer
Accord Financial Corp.
77 Bloor Street West, 18th floor
Toronto, ON M5S 1M2
(416) 961-0304 Ext. 207
info@accordfinancial.com
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