TORONTO, Feb. 14, 2012 /CNW/ - Crown Hill Capital Corporation ("Crown Hill"), the manager and trustee of Citadel Income Fund (the "Fund") announced today that up to 5,000,000 (five million) units of the Fund
("Units") may be redeemed on March 29, 2012 for an amount per Unit equal to the
NAV Retraction Price as of March 23, 2012.
Beneficial holders of Units must submit their request to redeem Units by
no later than March 20, 2012. The redemption will take place pursuant
to the procedures of CDS Clearing and Depository Services Inc.
Beneficial holders of Units should contact their broker with any
questions regarding how to provide their request for redemption.
In the event that the requests for redemptions exceed 5,000,000 (five
million) Units, Units will be redeemed on a pro rata basis.
The NAV Retraction Price is an amount equal to 100% of the net asset
value per Unit less any Retraction Costs. Crown Hill expects that
Retraction Costs will not exceed 0.9% of the net asset value per Unit.
Certain statements contained in this press release may include
forward-looking information with respect to the Fund's operations and
future financial results. Such statements are based on current
expectations, are subject to a number of uncertainties and risks, and
actual results may differ materially from those contained in such
statements. Further information can be found in the disclosure
documents filed by the Fund at www.sedar.com.
SOURCE Citadel Income Fund
For further information:
Investor Relations department at 416.361.9673 or toll-free at 1.877.261.9674