Avenue Financial launches structured product

Date: Monday, October 18, 2004

Avenue Financial Corp. today announced the launch of a structured share product by its affiliate Avenue Global Asset Management Inc. (AGAM), AGAM's series of three structured shares are available on a rolling close basis to accredited investors through qualified advisors and planners in select jurisdictions within Canada. Broker access to this product is available on FundServ under the management code AGA. “This product launch has been a long time coming but we feel we have positioned the AGAM Structured Share offering to address the growing investment needs of both the sophisticated and institutional investor in the alternative asset class within a tax efficient structure,” said i Colin Berrie, president of Avenue, in a release. “Avenue plans on continuing to deliver on its commitment to provide innovative structured products to the Canadian sophisticated investor,” he added. Avenue Financial also announced the first phase of its new Web site is now up and running to be followed shortly by a broker/advisor support site from AGAM. The firm also said it has granted to its officers and employees stock options for a total of 1.6 million shares under its stock option plan. The exercise price of the options is 10¢ per share and the options are for a five-year period expiring Oct. 14, 2009.