Mr. Eric Tremblay reports

ASTON HILL ANNOUNCES FIRST QUARTER RESULTS

Aston Hill Financial Inc. has filed its unaudited interim consolidated financial statements for the period ended March 31, 2013, and related managements' discussion and analysis, with Canadian securities regulatory authorities.

For the period ended March 31, 2013, Aston Hill's revenues were $7.3-million, an increase of 18 per cent from March 31, 2012, revenue of $6.2-million. The revenue increase was due mainly to the continued growth and performance of the Aston Hill mutual funds, and additional overhead recoveries from the services agreement with Argent Energy Trust. Aston Hill's assets under management, administration and advisory increased 15 per cent year over year from $5.9-billion to $6.8-billion at March 31, 2013. The rise in AUM is mainly the result of new mutual fund subscriptions, Argent acquisitions later in 2012 and the continued increase in the IA Clarington subadvised funds.

General and administrative expenses were $4.5-million for the first three months of 2013, as compared with $4.7-million for the prior quarter. EBITDA (earnings before interest, taxes, depreciation and amortization) for the three months ended March 31, 2013, was $2.4-million before stock-based compensation ($2-million after stock-based compensation), up from the prior-year amount of $2.1-million before stock-based compensation ($1.5-million after stock-based compensation). The year-over-year EBITDA increase is a result of revenue increases from the company's investment management services and products, offset by increased compensation, office, marketing and product development costs related to the growth of Aston Hill's mutual funds. The first quarter EBITDA of $2-million represents a notable increase from the fourth quarter of 2012 EBITDA of $371,000 due to increased revenues and net gains on investments, and decreases in general and administrative expenses and product development costs.

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