At a shareholders' meeting on April 29, 2013 the shareholders of Fraser Mackenzie Holdings Inc. ("FMHI"), the parent company of Fraser Mackenzie Limited ("FML"), a registered investment dealer and member of the Investment Industry Regulatory Organization of Canada ("IIROC"), voted in favour of resigning from IIROC and proceeding with a voluntary dissolution of the company.

FML was founded in 2004 and in its nine-year history has six-folded its capital base, published research on 154 Canadian companies, employed as many as 80 people and financed over 120 companies in the mining, oil & gas, biotechnology, high technology and industrial sectors raising over $7 billion.

Our assessment of the current business climate has led the owners to conclude that deploying our capital in the continuance of our regulated investment dealer businesses can no longer generate an acceptable rate of return. Institutional interest in early stage mining and oil & gas companies, sectors to which we have been heavily committed, has dried up: as has the associated trading in the equities of early stage resource companies. Furthermore, the regulatory cost burden is increasing at a time that industry-wide revenues are declining. On balance, it makes sense for our shareholders to re-deploy their capital.

Over the coming months our business will transform and re-focus on the activities being carried out by our merchant banking group – Fraser Mackenzie Merchant Capital ("FMMC"). FMMC currently works with private companies assisting them with capital raising and other advisory services and is in the process of establishing a mezzanine debt and a private equity fund to meet the wider financing needs of private companies.

We thank our staff for their invaluable contribution and our clients for their unwavering support.

For further information please contact:

Mark Polubiec
416-955-4777 x200 or 416-682-4201
Philip Benson
416-955-4777 x 233 or 416-682-4233