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GENIVAR Income Fund files its preliminary short form prospectus relating to a $50 million equity financing
GENIVAR Income Fund files its preliminary short form prospectus relating to a $50 million equity financing.
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[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION\n\n\nIN THE U.S./\n\n\nMONTREAL, Aug. 29 /CNW Telbec/ - GENIVAR Income Fund (TSX:GNV.UN)\n("GENIVAR" or the "Fund") today announced that it has filed its preliminary\nshort form prospectus relating to the offering of 1,902,439 trust units (the\n"Units") from treasury of the Fund on a bought deal basis with a syndicate of\nunderwriters led by National Bank Financial Inc., Raymond James Ltd. and TD\nSecurities Inc. and also including BMO Nesbitt Burns Inc. and Cormark\nSecurities Inc. The Units are being offered at a price of $20.50 per Unit. The\ngross proceeds of the offering of the Fund to the public will be $39 million.\nThe Units are being offered by way of short form prospectus in each of the\nprovinces of Canada. The financing is subject to all normal regulatory\napprovals and is expected to close on or about September 13, 2007.\n\n\nGENIVAR Inc., the non-controlling unitholder of the Fund, will\nconcurrently purchase, directly or indirectly, on a non-brokered private\nplacement basis, 536,585 non-subordinated exchangeable LP units (the\n"LP Units") from treasury of GENIVAR LP, an affiliate of the Fund, at a price\nof $20.50 per LP Unit (the "Private Placement"). The gross proceeds of the\nPrivate Placement to GENIVAR LP will be $11 million instead of $15 million as\npreviously announced on August 23, 2007 as a result of the potential\napplication to GENIVAR LP of the SIFT Rules contained in Bill C-52 should the\ntotal equity financing be greater than $50 million.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of any offer to buy, not 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 except pursuant to\nexemptions from the registration requirements of the U.S. Securities Act and\napplicable state securities laws.\n\n\nAbout GENIVAR\n\n\nGENIVAR is a leading Canadian Engineering Services firm providing private\nand public sector clients with a comprehensive range of professional\nconsult...