TORONTO, June 25 /CNW/ - Canada Cartage Diversified Income Fund (the
"Fund") (TSX: TRK.UN) today announced that at the annual and special meeting
of the Fund's unitholders held earlier today, the unitholders overwhelmingly
adopted a special resolution approving the sale of all the assets of the Fund
to companies formed and indirectly owned by Nautic Partners VI, LP and other
affiliated investment funds of Nautic Partners, L.L.C., as well as related
amendments to the constating documents of the Fund and its subsidiaries in
order to effect this transaction (the "Sale Transaction"), all as more fully
described in the management information circular of the Fund dated May 24,
2007. A report of final voting results for the annual and special meeting will
be available at www.sedar.com.
The closing of the transaction is anticipated to occur on or about
July 6, 2007. The Units are expected to be redeemed on or about July 6, 2007
in connection with the closing, following which the Fund will cease to be a
reporting issuer and will be wound up.
As previously announced, unitholders of record at the close of business
on June 30, 2007 will receive a cash distribution of $0.0833 per unit for the
month of June 2007. This cash distribution is anticipated to be paid on
July 5, 2007. Given the targeted closing date of July 6, 2007, there will not
be a cash distribution in respect of the month of July 2007. However,
Unitholders will receive their distribution of $11.30 per unit in connection
with the redemption of their units shortly after their units have been
About Canada Cartage Diversified Income Fund
Canada Cartage Diversified Income Fund, through its indirect interest in
CCD Limited Partnership ("CCD"), is a leading national provider of
transportation services, specializing in fully outsourced, customer-located,
dedicated trucking services. With origins dating to 1914, CCD offers a number
of transportation services including dedicated trucking, warehousing and
distribution, general cartage, logistics and moving services. CCD has a
presence in 12 cities across Canada and operates a fleet of over 1,500 trucks,
1,900 trailers and more than one million square feet in distribution and
The Fund was established to provide unitholders with monthly cash
distributions generated from the operations of CCD. The Fund's units are
listed on the Toronto Stock Exchange under the symbol TRK.UN.
Additional information relating to the Fund can be found at
www.canadacartageincomefund.com and www.sedar.com.
Caution Concerning Forward-Looking Statements
Certain statements in this news release may contain forward-looking
statements. Such statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements
to differ materially from those expressed in the forward-looking statements.
Canada Cartage Diversified Income Fund does not assume responsibility for the
accuracy and completeness of the forward-looking statements and does not
undertake any obligation to publicly revise these forward-looking statements
to reflect subsequent events or circumstances.
For further information:
For further information: James Rudyk, Chief Financial Officer, (905)