TORONTO, April 5 /CNW/ - CaRIT Limited, in its capacity as trustee (the "Trustee") for Canadian Resources Income Trust ("CaRIT" or the "Trust"), is pleased to announce the successful completion of the previously announced five-year extension and reorganization (the "Reorganization") of the Trust. The Reorganization was effective March 31, 2010.
CaRIT is an investment trust which provides investors with high current yield and low cost diversification through a fixed portfolio of securities of the 30 highest yielding Canadian issuers (regardless of corporate structure) focused on the Canadian natural resource industry with float capitalizations greater than $350 million as at December 15, 2009. Unitholders are entitled to receive monthly distributions as declared by the Trustee of CaRIT. The Trustee generally intends to declare and pay monthly distributions to the extent of forecasted distributions/dividends to be received for a calendar quarter from the underlying portfolio, less the estimated operating expenses for the period.
Trust units of CaRIT are listed for trading on the TSX under the symbol RTU.UN.
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and anticipated results. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," and similar expressions. These forward-looking statements are based on current expectations and assumptions which are believed to be reasonable as at the date of this statement and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. The issuer assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason, other than as required by applicable securities laws. In the event the issuer does update any forward-looking statement, no inference should be made that the issuer will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
SOURCE Canadian Resources Income Trust
For further information: For further information: Investor Relations, CaRIT Limited, Trustee of Canadian Resources Income Trust, (416) 863-7144, E-mail: email@example.com, Web site: www.scotiamanagedcompanies.com