Faircourt Global Income Advantage Class mutual fund to merge with Faircourt
Gold Income Corp.

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES./

TORONTO, Oct. 14 /CNW/ - (TSX:FGX): Faircourt Asset Management Inc. ("Faircourt") announced today that it is proposing that Faircourt Global Income Advantage Class mutual fund (the "Fund"), subject to obtaining shareholder approval and any applicable regulatory requirements (including the approval of the Toronto Stock Exchange), merge with Faircourt Gold Income Corp. ("FGX"), a closed-end fund that trades on the Toronto Stock Exchange with the symbol "FGX". In approximately 60 days, all of the outstanding shares of the Fund will be exchanged for shares of FGX and the Fund will be terminated.

"We are focused on creating new value added solutions for retail investors", stated Charles Taerk, President of Faircourt Asset Management Inc., the Manager of the Fund. "We also understand that not all investments garner the same appeal. When it comes to all of our investment options, we do not see appropriate returns or market potential for this specific offering in the marketplace."

Effective immediately, no further purchases of the Fund will be accepted, and, subject to obtaining shareholder approval and any applicable regulatory requirements, the Fund will be wound up in approximately 60 days (the "Termination Date"). All shareholders remaining on the Termination Date will receive FGX shares in the amount equivalent to the net asset value per Fund share multiplied by the number of shares of the Fund held by such shareholder. Shareholders may also redeem their holdings prior to the Termination Date (and in such circumstances may incur a transaction fee from their financial advisor).

More details about the proposed transaction will be provided in due course in an information circular to be sent to shareholders of the Fund in connection with the meeting of shareholders of the Fund to approve the merger. A notice of termination of the Fund (the "Notice") was also mailed today to all shareholders.

If you have any further questions about the merger, FGX, or the Fund's investment mandate, please contact either Charles G. Taerk or Doug Waterson at 1-800-831-0304. Further information about the Fund and FGX, including the Notice, is available electronically at www.sedar.com.

SOURCE Faircourt Asset Management Inc.

For further information: For further information: If you have any further questions about the merger, FGX, or the Fund's investment mandate, please contact either Charles G. Taerk or Doug Waterson at 1-800-831-0304. Further information about the Fund and FGX, including the Notice, is available electronically at www.sedar.com

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Faircourt Asset Management Inc.

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Faircourt Gold Income Corp.

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