(February 9 – 15:10 ET) – IPC Financial Network Inc. has completed asset purchase agreements with four financial planners via its senior associate share program.

The company currently has over 900 financial planners in its distribution network and the SASP has garnered much interest with many of these individuals.

The four individuals involved in these transactions are Gary Herbert Eves, Richard Felix, Jacob Norman Friesen and Irene Rose Friesen. The aggregate consideration for these agreements between IPC and the SASP participants is $695,000 and is payable by the issuance of 315,868 common shares at deemed share prices ranging from $2.13 to $2.50.

These acquisitions are consistent with IPC’s business plan and strategy. IPC is building a diversified financial services company that focuses on the highly fragmented financial planning industry. These are arm’s length transactions and are subject to receipt of all necessary regulatory approval.
-IE Staff