Acuity Small Cap Corporation files preliminary prospectus



    TORONTO, June 7 /CNW/ - Acuity Small Cap Corporation ("Corporation") is
pleased to announce that it has filed and has received a receipt from the
securities regulators of all the Canadian provinces and territories for the
preliminary prospectus, dated June 6, 2007 for the initial public offering of
units (the "Units") of the Corporation.
    Each Unit will comprise of one class A share ("Class A Share") and one
full Class A Share purchase warrant ("Warrant"). Each Warrant will entitle the
holder to purchase one Class A Share at a subscription price of $12.00 at
4:00 p.m. (Toronto time) on January 15, 2010.
    The Corporation's investment objectives are: (i) to provide the holders
of Class A Shares ("Shareholders") with long-term capital appreciation and
(ii) to provide Shareholders with monthly cash distributions.
    Acuity Investment Management Inc. ("Acuity") will provide investment
advisory and portfolio management services to the Corporation. The Corporation
intends to invest on an opportunistic basis in a broadly diversified group of
issuers including, but not limited to, listed and unlisted issuers that are
engaged in (i) environmental technologies; (ii) the production of and/ or
exploration for basic and precious metals; (iii) energy (in particular,
uranium and oil & gas services); (iv) information technology; and (v) health
care and biotechnology.
    Acuity was formed in 1990 and currently has assets under management of
approximately $9.3 billion on behalf of mutual funds, pooled funds, closed-end
funds and high net worth and institutional clients.
    A syndicate of agents is being led by CIBC World Markets Inc. and
Canaccord Capital Corporation; and includes BMO Capital Markets, National Bank
Financial Inc., TD Securities Inc., Dundee Securities Corporation, HSBC
Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc.,
Blackmont Capital Inc., Desjardins Securities Inc., GMP Securities L.P., IPC
Securities Corporation, Richardson Partners Financial Limited and Wellington
West Capital Inc.
    A preliminary prospectus relating to these securities has been filed with
securities commissions or similar authorities in each of the provinces and
territories of Canada but has not yet become final for the purpose of a
distribution to the public. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale or
any acceptance of an offer to buy these securities in any province or
territory of Canada prior to the time a receipt for the final prospectus or
other authorization is obtained from the securities commission or similar
authority in such province or territory.
    A copy of the preliminary prospectus may be obtained from CIBC World
Markets Inc., 161 Bay Street, BCE Place, P.O. Box 500, Toronto, ON M5J 2S8.

    %SEDAR: 01116252E




For further information:

For further information: about the offering, please call Ian O.
Ihnatowycz at Acuity Funds Ltd. at 1-800-461-4570

Organization Profile

ACUITY SMALL CAP CORPORATION

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ACUITY FUNDS LTD.

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