Olympia Financial Group Inc. Announces Acquisition of Investment Accounts From Community Trust Company

Olympia Financial Group Inc. ("Olympia") (TSX:OLY) is pleased to announce that Olympia Trust Company (“Olympia Trust”) has entered into an asset purchase agreement pursuant to which, subject to the satisfaction of certain conditions, Olympia Trust will purchase substantially all of the self-directed registered plan investment accounts currently administered by Community Trust Company (the “Transaction”).

Mr. Craig Skauge, President & CEO of Olympia Trust, said: “This acquisition from Community Trust Company further consolidates Olympia’s dominant position as Canada’s leading provider of self-directed registered plan investment accounts for those wishing to invest in private company securities and arms-length mortgages.”

About Olympia Financial Group Inc.

Olympia conducts most of its operations through its subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts, provides foreign currency exchange services and Corporate and Shareholder services. Olympia also offers private health services plans through its subsidiary Olympia Benefits Inc. and provides information technology services to exempt market dealers, registrants and issuers through its Exempt Edge division.

Olympia’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.

Statements Regarding Forward Looking Information

Certain portions of this press release as well as other public statements by Olympia contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward–looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continue”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” and similar expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information. Forward-looking statements contained in Olympia’s public disclosure include, without limitation, Olympia’s earnings expectations, fee income, expense levels, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, catastrophic events, and Olympia’s ability to complete strategic transactions and other factors. In addition, this news release contains forward-looking statements relating to: (a) the terms and conditions of the Transaction.; (b) whether the Transaction will be completed; and (c) if the Transaction is completed and, if completed, the date on which the Transaction is completed;

All material assumptions used in making forward-looking statements are based on management’s knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current interest rate and liquidity conditions affecting Olympia and the Canadian economy. Certain material factors or assumptions are applied by Olympia in making forward-looking statements, including without limitation, factors and assumptions regarding interest and foreign exchange rates, availability of key personnel, the effect of competition, government regulation of its business, computer failure or security breaches, future capital requirements, acceptance of its products in the marketplace, its operating cost structure, the current tax regime and the ability of Olympia to obtain necessary third-party and governmental approvals, as applicable.

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Olympia Financial Group Inc.
Craig Skauge, Executive Vice President
[email protected]
(403) 261-8459