TORONTO, Jan. 21 /CNW/ - Crown Hill Capital Corporation is pleased to
announce that it has appointed Robson Capital Management Inc. ("Robson") as
the investment manager for Crown Hill Fund ("Crown Hill"). Robson replaces
Crown Hill Asset Management Inc. as investment manager. This reorganization is
part of the acquisition (the "Acquisition") of the manager and trustee of
Fairway Diversified Income and Growth Trust ("Fairway"). The merger of Fairway
and Crown Hill will be completed on January 23, 2009.
In connection with the Acquisition, completed on January 20, 2009, Crown
Hill made a loan to the parent of Crown Hill Capital Corporation in the amount
of $995,000, to fund the purchase price. The loan bears interest at a rate of
prime plus 2% per annum. The loan will be repaid in equal monthly instalments
of $19,900 beginning in February 2009.
The loan constitutes a related party transaction under applicable
securities law. Due to the structure of the Acquisition, the amount of the
loan could not be determined until January 19, the day prior to the purchase
of the manager and trustee of Fairway. As a result, 21 days prior notice of
the loan transaction that is contemplated by securities legislation was not
practicable in the circumstances.
Robson Capital Management Inc. is an investment management company
dedicated to the development, marketing and management of specialty investment
funds for Canadian investors. Since its founding in 2003, Robson has
established two alternative investment funds: the Robson Van Eck Hard Assets
Fund and the Robson Everest Global Fund. Robson's team is led by Jeffrey C.
Shaul, CFA, FCSI, who has more than 23 years of investment industry experience
in the research and assessment of investment opportunities and the management
of investment funds.
For further information:
For further information: Crown Hill Capital Corporation, Tel: (416)