TORONTO, June 5 /CNW/ - Coxe Commodity Strategy Fund (the "Fund")
announced that the Over-Allotment Option granted to the Agents for its
recently completed initial public offering has been exercised in full and an
additional 3,750,000 Class A Combined Units have been issued for $37,500,000.
The total gross proceeds of the offering including as a result of the exercise
of the Over-Allotment Option are $297.5 million.
The Fund also announced the separation of the Class A Combined Units into
Class A Units and Warrants for Class A Units and the Class F Combined Units
into Class F Units and Warrants for Class F Units of the Fund.
Each Class A Combined Unit consists of one Class A Unit and one Warrant
for one Class A Unit. Each Warrant for one Class A Unit entitles the holder to
purchase one Class A Unit at a subscription price of $11.25 on May 31, 2011.
Each Class F Combined Unit consists of one Class F Unit and one Warrant for
one Class F Unit. Each Warrant for one Class F Unit entitles the holder to
purchase one Class F Unit at a subscription price of $11.25 on May 31, 2011.
Warrants for Class A Units or Class F Units may be tendered for exercise on
and after May 16, 2011 and up to May 31, 2011 (being the two week period up to
and including the expiry date for the Warrants). Warrants for Class A Units or
Class F Units not exercised by May 31, 2011 will be void and of no value.
The focus of the Fund is to provide investors with long-term capital
growth by executing the commodity investment strategies of Donald G.M. Coxe.
Mr. Coxe, BMO's Global Portfolio Strategist, is highly regarded for his
unique and insightful analysis of global trends and themes that are driving
the global economy. Mr. Coxe will act as the Fund's Portfolio Consultant
allowing investors the first opportunity to gain direct exposure to Mr. Coxe's
well-publicized views on the commodity super cycle. Harris Investment
Management, Inc., a wholly-owned subsidiary of BMO, is the Investment Manager
and will be responsible for implementing the Fund's investment strategy.
The Class A Units and Warrants to purchase Class A Units are listed on
the Toronto Stock Exchange under the symbols COX.UN and COX.WT, respectively.
About the Fund's Investment Strategy:
The Fund will invest in an actively managed portfolio consisting
primarily of equity securities. The Fund will provide exposures to
commodity-related securities with the approximate target weightings
established for the Fund by Mr. Coxe in the agriculture, base metals, steel,
energy, and precious metals sectors. The portfolio is expected to be well
diversified within these sectors and to consist primarily of exchange-traded
equities, but may contain debt securities, cash and/or cash equivalents.
To obtain further details about the Coxe Commodity Strategy Fund
including investment risks refer to the final prospectus. Copies of the final
prospectus may be obtained from your IDA registered financial advisor or by
visiting: www.bmosp.com/coxecommodity/. Please contact your IDA registered
financial advisor for further information.
About Donald Coxe
With 36 years of institutional investing and money management experience
in Canada and the United States, Donald Coxe has a unique background in North
American and global capital markets. As Global Portfolio Strategist for BMO
Capital Markets, the investment and corporate banking arm of BMO Financial
Group (NYSE, TSX: BMO), he publishes a monthly institutional portfolio
strategy journal, Basic Points, which is distributed in North America and
In April 2008, Mr. Coxe was recognized as this year's Top Analyst by the
National Post and StarMine, an independent consulting firm that measures the
performance of individual research analysts.
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