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GENIVAR Income Fund announces $50 million equity financing
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./ MONTREAL, Sept. 12...
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[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\nU.S./\n\n\nMONTREAL, Sept. 12 /CNW/ - GENIVAR Income Fund (TSX:GNV.UN) ("GENIVAR" or\nthe "Fund") today announced that it has agreed to issue 1,391,650 trust units\n(the "Units") from treasury of the Fund on a bought deal basis to a syndicate\nof underwriters led by TD Securities Inc., National Bank Financial Inc. and\nRaymond James Ltd. The Units will be offered at a price of $25.15 per Unit.\nThe gross proceeds of the offering to the Fund will be $35 million and the\nUnits will be offered by way of short form prospectus in each of the provinces\nof Canada. The financing is subject to all normal regulatory approvals and is\nexpected to close on or about October 2, 2008.\n\n\nGENIVAR Inc. will concurrently purchase, directly or indirectly, on a\nprivate placement basis exchangeable LP units (the "LP Units") from treasury\nof GENIVAR LP at a price of $25.15 per LP Unit (the "Private Placement"). The\ngross proceeds of the Private Placement to the Fund will be $15 million.\n\n\nThe net proceeds of the financing will be used for debt repayment and for\ngeneral purposes of the Fund.\n\n\nThe Fund distributes distributable income on a monthly basis to\nunitholders of record on the last business day of each month. Payments are\nmade on or about the 15th day after each record date. The first distribution\nthat purchasers of the Units offered will be entitled to receive is the\ndistribution expected to be paid on November 17, 2008 to holders of record on\nOctober 31, 2008 for the period of October 1, 2008 to October 31, 2008.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of any offer to buy, nor shall there be any sale of these\nsecurities in any jurisdiction in which such offer, solicitation or sale would\nbe unlawful. The Units offered will not be and have not been registered under\nthe United States Securities Act of 1933, as amended (the "U.S. Securities\nAct") and may not be offered or sold in the United States.\n\n\nForward Looking Information\n\n\nCertain information regarding GENIVAR contained herein may constitute\nforward-looking statements. Forward-looking statements may include estimates,\nplans, expectations, opinions, forecasts, projections, guidan...