TORONTO, April 1, 2015 /CNW/ - Scotia Managed Companies Administration Inc. is pleased to announce that Canadian Resources Income Trust (the "Trust" or "CaRIT") has completed its previously announced extension of the term of the Trust for an additional five years to March 31, 2020. Holders ("Unitholders") of CaRIT units ("Units") approved the extension following the March 16, 2015 special retraction right, which condition was satisfied with Unitholders holding over 93% of the Units remaining in the Trust.
Unitholders continuing their investment in the Trust will enjoy the benefit of regular monthly distributions from in an equally weighted portfolio comprising the 20 highest yielding natural resource issuers in the S&P/TSX 60 Index. The initial distribution target of the Trust is expected to be 6.00% per annum based on the Trust's net asset value as at March 31, 2015, or $0.71 per Unit per annum.
Trust Units of CaRIT are listed for trading on The Toronto Stock Exchange under the symbol RTU.UN.
SOURCE Canadian Resources Income Trust
For further information: Investor Relations, CaRIT LP, Trustee of Canadian Resources Income Trust, (416) 863-7144, E-mail: email@example.com, Web site: www.scotiamanagedcompanies.com