Faircourt Gold Income Corp. Rights Offering to Shareholders
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES./
TORONTO, Dec. 4, 2013 /CNW/ - Faircourt Asset Management Inc., (the "Manager") as manager of Faircourt Gold Income Corp. (TSX: FGX) (the "Company") is pleased to announce that a total of 360,745 Class A Shares have been issued as a result of the exercise of 721,490 rights (the "Rights") raising gross proceeds of $1.5 million. The Rights were issued as part of the Company's previously announced distribution of Rights to holders of Class A Shares as of the close of business on October 30, 2013 (the "Rights Offering").
Under the Rights Offering, two Rights entitled the holder thereof to purchase one Class A Share at a subscription price of $4.22. The Toronto Stock Exchange ("TSX") has approved the listing on the TSX of the Class A Shares issued upon exercise of the Rights.
The Company will use the net proceeds of the Rights Offering to acquire additional portfolio securities, all in accordance with the investment objectives and investment strategy of the Company and subject to its investment restrictions.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States. Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, and applicable state securities laws, or an available exemption from such registration.
SOURCE Faircourt Asset Management Inc.For further information:
on the Rights Offering or other Faircourt Funds, please visit www.faircourtassetmgt.com or contact: Charles Taerk, President and CEO or Douglas Waterson, CFO and Portfolio Manager at (416) 364-8989 or 1-800-831-0304.