(November 23 – 12:00 ET) – Canadian First Financial Group Inc. has appointed a special committee to drum up buyers for the company.

CFFG says the committee will consist of Robert Marshall, John Evans and Roger Thompson. The committee’s mandate is to seek out, identify, analyze and recommend potential buyers for the company. The committee will also consider asset sales and other transactions consistent with its mandate of maximizing shareholder value.

Peter Williams, chairman and CEO of CFFG, commented, “CFFG has from time to time received enquiries from interested parties concerning a possible acquisition. Since the announcement of an unsolicited take-over bid on October 10, 2000, more enquiries have come forward.” He added, “the appointment of the special committee will enable the corporation to work with interested parties in an organized fashion to solicit the best offer for the shares of the corporation.”

CFFG also announced today that, in light of these circumstances, the annual and special meeting of shareholders, originally scheduled for November 29, will be postponed until further notice.

CFFG is a financial services holding company. Its principal subsidiaries are EFI Financial Services, Golden Financial, Ross Dixon Financial Services, Hewmac Financial Group and Burgeonvest Securities.
-IE Staff