AHF Aston Hill Financial Inc.

CALGARY, Aug. 18, 2011 /CNW/ -- CALGARY, Aug. 18, 2011 /CNW/ - Aston Hill Financial Inc. (the "Company" or "Aston Hill") (TSXV: AHF) announces it has filed the unaudited interim consolidated financial statements for the period ended June 30, 2011 and related Management Discussion and Analysis with Canadian Securities Regulatory Authorities. Recurring revenues for the second quarter of 2011 were approximately $3.5 million as compared to $2.0 million in the second quarter of 2010, representing a 75% year over year increase. As of June 30, 2011, Aston Hill had approximately $3.4 billion in Assets under Advisory and Management ("AUM") versus $2.0 billion at June 30, 2010, representing an increase of 70%. Subsequent to quarter end, on July 27, 2011, the Company closed a series of transactions that have a material impact on its business. The Company completed a bought deal financing of 6.00% extendible convertible unsecured subordinated debentures in the aggregate principal amount of $40.25 million trading on the TSX Venture Exchange under the symbol AHF.DB. Concurrently, on July 27, 2011, Aston Hill purchased all of the issued and outstanding shares of BFML Management Limited ("BFML") for cash consideration of $28.0 million which holds the management contracts for 7 closed-end funds, previously managed by Brompton Funds Management Limited, representing approximately $800 million in AUM. Also, concurrently with this acquisition and the financing, Aston Hill acquired the business of Morrison Williams Investment Management LP and its wholly-owned subsidiary, Morrison Williams Capital Advisors Inc. (together referred to as "Morrison Williams") for cash consideration of $11.5 million. The acquisition of Morrison Williams represents $1.6 billion in assets under management in institutional and other pension related investment funds. These two acquisitions increase Aston Hill's AUM from $3.4 billion to approximately $5.8 billion. Aston Hill is an asset management company with expertise in income products, energy investments and oil and gas property management. Aston Hill has offices in Calgary and Toronto. The TSX Venture Exchange has neither approved nor disapproved the information contained herein. Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's annual financial statements and management discussion and analysis for the year ended December 31, 2010, both of which are available at www.sedar.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking statements. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/18/c4710.html p /p table border="0" valign="top" tr td nowrap="nowrap" Eric Tremblaybr/ Chief Executive Officerbr/ Aston Hill Financial Inc.br/ (403) 770-4817 /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap" Larry Titleybr/ Vice President and CFObr/ Aston Hill Financial Inc.br/ (403) 770-4808 /td /tr /table p   /p

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