(November 21 – 12:10 ET) – AGF Management Ltd. says it has entered into an agreement with a syndicate of investment dealers led by TD Securities Inc. and BMO Nesbitt Burns Inc.

The syndicate has agreed to purchase 5,500,000 Class B Non-Voting shares of AGF at a price of $25 per Class B Non-Voting share. The gross proceeds from the offering, which is scheduled to close on or about December 6, 2000, will be $137,500,000.

The net proceeds of the offering will be used to retire existing short-term debt incurred to finance the acquisition of Global Strategy Holdings Inc.

“We are taking strong and prudent action on behalf of our shareholders to strengthen our balance sheet with the completion of our acquisition of Global Strategy,” said Blake Goldring, president and CEO, AGF Management Ltd. “The move ensures a solid foundation for future growth and expansion.”

The Class B Non-Voting Shares will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the Securities Act.
-IE Staff