/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES OF AMERICA./
TORONTO, Feb. 28, 2013 /CNW/ - Marret Asset Management Inc. is pleased
to announce that the Marret High Yield Strategies Fund (the "Fund") (TSX: MHY.UN) has completed its previously announced private
placement (the "Offering") of units of the Fund (the "Units") for aggregate gross proceeds to the Fund of $8,220,200.80. Scotia
Capital Inc. (the "Agent") acted as agent in connection with the Offering. The offering price of
the Units was established through negotiation between the Agent and the
Fund and is not dilutive to existing unitholders of the Fund.
The Units sold pursuant to the Offering will be subject to resale
restrictions under applicable securities laws expiring on July 1,
2013. The listing of the Units is subject to final approval of the
Toronto Stock Exchange.
The Fund seeks to achieve the following investment objectives: (i) to
maximize total returns for unitholders consisting of both
tax-advantaged distributions and capital appreciation, while reducing
risk; and (ii) to provide unitholders with attractive monthly
tax-advantaged cash distributions.
Certain statements included in this news release constitute
forward-looking statements. The forward-looking statements are not
historical facts but reflect current expectations regarding future
results or events. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations and, accordingly,
readers are cautioned not to place undue reliance on such statements
due to the inherent uncertainty therein. Marret Asset Management Inc.
undertakes no obligation to update publicly or otherwise revise any
forward-looking statement whether as a result of new information,
future events or other such factors which affect this information,
except as required by law. Investment funds are not covered by the
Canada Deposit Insurance Corporation or by any other government deposit
insurer. There is no assurance that the Fund will be able to achieve
its distribution and capital preservation objectives or that the full
amount of a unitholders investment in the Fund will be returned.
SOURCE: Marret High Yield Strategies Fund
For further information:
Marret High Yield Strategies Fund
Tel: (416) 214-5800
Web site: www.marret.com