North American Preferred Share Fund announces warrant offering
TORONTO, April 15, 2014 /CNW/ - Propel Capital Corporation, the manager of North American Preferred Share Fund (TSX: NPF.UN) (the "Fund") is pleased to announce that the Fund has filed a preliminary prospectus for an offering of warrants of the Fund (the "Warrants") to unitholders of the Fund (the "Unitholders"). Each Unitholder will receive one Warrant for each unit of the Fund (a "Unit") held on a record date that will be determined prior to the filing of the final prospectus.
Two whole Warrants will entitle the Unitholder to purchase a Unit upon payment of the subscription price, which will be determined as the lesser of: (i) the sum of the most recently calculated net asset value per Unit prior to the date of the preliminary short form prospectus plus the estimated per Unit fees and expenses of the offering of the Fund; and (ii) the sum of the most recently calculated net asset value per Unit prior to the date of filing the final short form prospectus plus the estimated per Unit fees and expenses of the offering of the Fund.
The Fund has applied to list the Warrants and the Units issuable on the exercise thereof on the Toronto Stock Exchange.
The Warrants are not qualified for distribution in the United States of America. A copy of the preliminary prospectus has been filed on SEDAR at www.sedar.com under the Fund's profile.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
SOURCE North American Preferred Share FundFor further information: please call Krista Matheson, Senior Vice President, Propel Capital at 416-572-2431 or visit www.propelcapital.ca