Jovian Capital Corp. said Friday that Edco Capital Corp., a company controlled by N. Murray Edwards, has agreed to extend Jovian’s $15 million credit facility from December 2009 to April 2011.

Jovian has agreed to pay an interest rate of 12% commencing April 1, 2009, and 14% commencing April 1, 2010.

Jovian will issue to the lender 1.5 million common share purchase warrants, exercisable at a price of 30¢ a share for two years, for which Jovian has received conditional approval from the Toronto Stock Exchange.

“The transaction is subject to completion and execution of a definitive agreement and is expected to closed by March 31, 2009,” Jovian said.

The Jovian group of companies includes AlphaPro Management Inc., BetaPro Management Inc., Horizons Funds Inc., JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Securities (USA) Inc., MGI Wealth, T.E. Wealth and Felcom Data Services Inc.

IE