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Front Street Capital agrees to sell Jemekk Capital Management to J2 Capital Management

Monday, October 17, 2016
Opalesque Industry Update - Front Street Capital 2004 has announced that it has entered into an agreement whereby Front Street Capital will sell Jemekk Capital Management Inc. to J2 Capital Management Inc., a newly created corporation controlled by Gerard Ferguson, and whereby J2 Capital will be assigned the investment management and portfolio advisory agreements relating to the Jemekk Total Return Fund L.P. and the Jemekk Long/Short Fund L.P., subject to J2 Capital obtaining registration under applicable securities legislation. The transaction is expected to close on or prior to November 15, 2016.

In connection with the closing of the transaction, Mr. Ferguson will be leaving Front Street Capital and will continue to manage the Jemekk Funds through J2 Capital. In addition, it is expected that Rick Ummat will also be joining J2 Capital concurrently with the transition of the Jemekk Funds.

Mr. Ferguson joined the Front Street Capital group as a portfolio manager in 2013, when an affiliate of Front Street Capital purchased Jemekk, following which Front Street Capital became the manager for the Jemekk Total Return Fund L.P. and the Jemekk Long/Short Fund L.P. As Mr. Ferguson currently co-manages the Front Street Tactical Equity Class with Frank Mersch, his role with that fund will be transferred to Greg Taylor. Mr. Taylor joined Front Street Capital in May, 2016 and manages the Front Street Select Equity Fund and also co-manages the Front Street Growth and Income Class.

Front Street Capital has been providing Canadians with innovative mutual funds for over 10 years, including growth, income and tax-minded portfolios offered as mutual funds, hedge funds, flow-through limited partnerships and trusts. Front Street Capital is focused on giving Canadian investors and advisors access to a broad range of investments which can fill core and strategic roles in an investor's portfolio.

J2 Capital Management Inc. is a Canadian based, employee owned, private investment management firm formed to initially manage two investment pools, the Jemekk Long Short Fund L.P. and the Jemekk Total Return Fund L.P. The company will be responsible for making investment decisions on behalf of institutional, high net worth and pooled clients, with the objective of providing consistent, positive, absolute returns. The company is currently seeking registration with the Ontario Securities Commission as an Investment Fund Manager, Portfolio Manager and Exempt Market Dealer.

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