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Stock Market & Financial Investment News

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January 18, 2013
17:46 EDTGROWU.S. Global Investors to make strategic investment in Galileo Global Equity
U.S. Global Investors (GROW) announced that the company has entered into an agreement whereby U.S. Global will purchase 50% of the issued and outstanding shares of Toronto-based Galileo Global Equity Advisors. Currently, all of the outstanding shares of Galileo are owned by Michael Waring. Upon completion of the transaction, Waring and U.S. Global will each own 50% of the outstanding shares of Galileo. Waring will continue to serve as the President, CEOr and Chief Investment Officer of Galileo and will continue to have overall responsibility for the investment management activities of Galileo, including its management of the Galileo Mutual Funds. The transaction is subject to the approval of securities regulatory authorities and to the satisfaction of other closing conditions. It is anticipated that the transaction will close on or before March 31.
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