This press release is not for distribution in the United States.
TORONTO, Nov. 11, 2011 /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
1,868,710 Class A Shares have been issued as a result of the exercise
of 3,737,420 rights (the "Rights") raising gross proceeds of $18.3
million. The Rights were issued as part of the Company's previously
announced distribution of 4,933,121 Rights to holders of Class A Shares
as of the close of business on October 14, 2011 (the "Rights
Under the Rights Offering, two Rights entitled the holder thereof to
purchase one Class A Share at a subscription price of $9.80. The
Toronto Stock Exchange ("TSX") has approved the listing on the TSX of
the Class A Shares issued upon exercise of the Rights. CIBC acted as
the dealer manager for the Rights Offering.
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
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.