TORONTO, Feb. 6 /CNW/ - Ravensource Fund (the "Fund") (TSX: RAV.UN) has
announced that it is issuing to the holders ("Unitholders") of its units (the
"Units") of record as at the close of business on February 3, 2006 (the
"Record Date") rights (the "Rights") to subscribe for and purchase from the
Fund a maximum of 343,587 Units of the Fund at a price (the "Subscription
Price") per Unit equal to $8.00, being 93.13% of the net asset value of a Unit
(rounded to the nearest cent) at the close of business on January 19, 2006, on
the terms set forth in the Fund's rights offering circular (the "Circular")
dated January 20, 2006 (the "Offering"). Each Unitholder of record on the
Record Date will receive one Right for each Unit held. Four Rights entitle the
holder to acquire one Unit upon payment of the Subscription Price. The Rights
will be listed on the Toronto Stock Exchange (the "TSX") (TSX: RAV.RT) and the
TSX has approved the listing of the Units issuable on the exercise of the
Rights. Holders of Rights who exercise their Rights in full are entitled to
subscribe pro rata for additional Units pursuant to an additional subscription
privilege, the terms of which are set out in more detail in the Circular.
The Rights may be exercised commencing on February 3, 2006 and the Rights
will expire at 4:00 p.m. (Toronto time) on March 10, 2006. For further
information, please refer to the Circular filed by the Fund with Canadian
securities regulatory authorities at www.sedar.com.