Canada NewsWire
TORONTO , Nov. 6, 2023 /CNW/ - Stornoway Portfolio Management Inc. ("Stornoway"), the Investment Manager of Ravensource Fund ("Ravensource" or the "Fund") (TSX: RAV.UN) is pleased to announce the successful completion of the previously announced private placement, raising $1,418,400 through the issuance of 90,000 units ("Units") of the Fund at a price of $15.76 per Unit.
The proceeds from the Offering will be used by the Fund to purchase additional investments, both in new and existing Fund positions.
Ravensource Fund is a closed-end trust eligible for registered accounts including RRSPs, RESPs, TFSAs and RRIFs. Ravensource's objective is to seeks to achieve absolute, long-term returns by investing in out-of-favour and deep-value North American securities. The Fund has three investment strategies: distressed securities, alternative credit and special situations equities.
Additional information relating to Ravensource Fund is available on its website at www.ravensource.ca .
Cautionary Statements
This press release contains forward-looking statements which reflect the Fund's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Ravensource disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.
For more information, please contact:
Stornoway Portfolio Management Inc.
30 St. Clair Avenue West, Suite 901
Toronto, Ontario
M4V 3A1
Attention:
Scott Reid
Telephone: (416) 250-2845
Email:
sreid@stornowayportfolio.com
SOURCE Ravensource Fund
View original content: http://www.newswire.ca/en/releases/archive/November2023/06/c5126.html