Jovian Capital Corp. has closed approximately $13.1 million of its previously announced private placement of up to $15 million.

Jovian has issued a total of 18,714,282 common shares, at a price of 70ยข per share. Jovian expects to close an additional amount to complete the $15 million financing by the end of next week.

According to Jovian, the proceeds of the private placement will be used for future acquisitions and other growth opportunities within the company

Jovian is the parent of Rice Financial Group Inc. Earlier this month it merged Independent Wealth Advantage Inc. with Rice Financial and acquired Felcom Data Services Inc. and T.E. Financial Consultants Ltd.