/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
TORONTO, Sept. 24, 2012 /CNW/ - Coxe Global Agribusiness Income Fund
(the "Fund") is pleased to announce that the Fund has completed an
issuance of an additional 15,227 units ("Units") of the Fund pursuant
to the exercise of the over-allotment option granted to the Fund's
agents in its recently completed follow-on offering which closed on
September 7, 2012. As a result, in connection with the follow-on
offering, altogether, the Fund has issued 790,227 Units at a price of
$9.25 per Unit for gross proceeds of $7,309,600.
The Fund has been created to provide investors with long term capital
growth by executing the agribusiness investment thesis of Donald G. M.
Coxe, Chairman of Coxe Advisors LLP.
The investment objectives of the Fund are to provide holders of Units
with long term capital growth, quarterly distributions and lower
overall volatility of portfolio returns than would be experienced by
owning securities of Agribusiness Issuers (defined below) directly.
Distributions are currently targeted to be $0.50 per Unit per annum,
representing a yield of 5.0% per annum based on the initial issue price
of $10.00 per Unit. The Fund invests in a diversified portfolio (the
"Portfolio") of publicly-listed securities of issuers ("Agribusiness
Issuers") engaged in various aspects of agriculture, including food
production, such as grains and livestock, agriculture equipment and
sales, fertilizers, seed and specialty chemicals and agriculture
infrastructure, including water, energy and alternative energy,
transportation, agriculture technology and biotechnology related to the
agribusiness industry. The Portfolio is well-diversified within the
agribusiness industry and consists primarily of exchange-traded
equities, but may include exchange-traded funds, debt, cash or cash
In order to seek to earn income from option premiums to supplement the
dividends and distributions generated by the Portfolio and to lower the
overall volatility of returns associated with the securities of
Agribusiness Issuers held in the Portfolio, Connor, Clark & Lunn
Capital Markets Inc. writes covered call options from time to time on
up to 25% of the Portfolio.
The Units are listed on the Toronto Stock Exchange under the symbol
BMO Nesbitt Burns Inc. is the promoter and acts as administrator of the
The Units were offered for sale by a syndicate of agents led by BMO
Capital Markets that includes CIBC, National Bank Financial Inc.,
Scotiabank, TD Securities Inc., Macquarie Private Wealth Inc., Raymond
James Ltd., Canaccord Genuity Corp., GMP Securities L.P., Desjardins
Securities Inc., Mackie Research Capital Corporation, and Manulife
COXE GLOBAL AGRIBUSINESS INCOME FUND
SOURCE: Coxe Global Agribusiness Income Fund
For further information:
BMO Capital Markets at 1.866.864.7760.