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O'Leary Canadian Equity Income Fund: Announces Exchange Ratios
O'Leary Canadian Equity Income Fund: Announces Exchange Ratios
About this update from Bonterra Energy Corp.
[{"type":"text","content":"\n\n\n\nDec. 9, 2009 (Canada NewsWire Group) -- TORONTO, Dec. 9 /CNW/ -- O'Leary Funds Management LP (the \"Manager\"), the trustee and manager of O'Leary Canadian Equity Income Fund (the \"Fund\") is pleased to announce the exchange ratios for the exchange offer by the Fund (the \"Exchange Option\") being made under the final prospectus for the Fund dated November 25, 2009. The closing of the initial public offering of Units is expected to occur on December 18, 2009.The Fund has been created to invest in an actively managed portfolio comprised primarily of publicly-traded securities of issuers domiciled in Canada providing investors with both income and potential for capital appreciation. The Fund's investment objectives are:(i) to maximize total return for holders of Trust Units (\"Unitholders\"),consisting of distributions, interest and dividend income andcapital appreciation; and(ii) to provide Unitholders with monthly distributions initially targetedto be $0.08 per Trust Unit ($0.96 per annum representing an annualcash distribution of 8% based on the $12.00 per Unit issue price).The Manager has retained Stanton Asset Management Inc. (the \"Portfolio Advisor\") to provide investment advisory services to the Fund. The Portfolio Advisor is a Canadian investment firm focused on global investment opportunities, and is also the manager of a variety of specialized funds. The Portfolio Advisor, together with O'Leary, will implement the investment strategy of the Fund.On or before December 1, 2011, the Fund will become an open-end mutual fund, the Trust Units of the Fund will be delisted and the Trust Units will become redeemable at their net asset value per Trust Unit on a daily basis. Prospective purchasers may purchase Units either by cash payment or by an exchange of freely tradable securities of each class or series of securities described in the table below.The number of Units issuable in exchange for the securities of an exchange eligible issuer (the \"Exchange Ratio\") deposited by a prospective purchaser pursuant to the Exchange Option was determined for income trusts, preferred shares and dividend-paying equity securities by dividing the volume weighted average trading price of such securities on the Toronto Stock Exchange (the \"TSX\") during the five consecutive trading days ending on December 9, 2009 (the \"Pricing Peri...