Northern Financial says that it has received all regulatory approvals for its proposed rights offering, including Toronto Stock Exchange approval.

A rights offering circular has now been mailed to all shareholders. Four rights plus $0.025 entitle a holder to subscribe for one common share prior to 4:00 pm (Eastern Time) on Oct. 30. The expiry date has been revised from Oct. 25, as previously announced. The rights are currently trading on the Toronto Stock Exchange.

Northern Financial will also be hosting an investor presentation in connection with the company’s rights offering on Oct. 23 at the National Club in Toronto. At the investor presentation, the management team at Northern will outline the company’s business opportunities, including the recently announced proposed acquisition of the brokerage business Georgia Pacific Securities Corp. There will also be an opportunity for investors to enquire about the company’s rights offering.