IPC Financial Network Inc. and Equisure Financial Network Inc. announced they have entered into a definitive agreement for IPC to purchase Toronto-based Equisure Securities Ltd.

The acquisition is scheduled to close on June 30, 2001 and is subject to certain standard conditions, including regulatory approvals.

ING Canada Inc. holds 49 percent of the outstanding common shares of Equisure and also owns 26 percent of the outstanding common shares of IPC.

The acquisition of Equisure Securities is consistent with IPC’s business plan and strategy. IPC is building a diversified financial services company focusing on the highly fragmented financial planning industry.