GENIVAR Income Fund Announces Closing of $100 million Equity Financing

    
    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/
    

MONTREAL, Oct. 16 /CNW Telbec/ -GENIVAR Income Fund (TSX:GNV.UN) ("GENIVAR" or the "Fund") announced today the closing of its previously announced public offering of 3,809,500 units of the Fund (the "Units") for gross proceeds of approximately $100 million (the "Offering"). The Offering will result in net proceeds to the Fund of approximately $95 million which will be used to repay the bank advances under GENIVAR's credit facilities and for working capital and general corporate purposes.

The Units were offered through an underwriting syndicate led by BMO Capital Markets and CIBC World Markets Inc., and also including National Bank Financial Inc., Raymond James Ltd., TD Securities Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Laurentian Bank Securities Inc., Macquarie Capital Markets Canada Ltd., Blackmont Capital Inc., Cormark Securities Inc. and Dundee Securities Corporation.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Units offered will not be and have not been offered or sold in the United States.

About GENIVAR

GENIVAR is a leading Canadian engineering services firm providing private and public sector clients with a full range of professional consulting services through all execution phases of a project including planning, design, construction and maintenance. Its clients, which are of varying sizes, fall into various market segments such as buildings, industrial and power, municipal infrastructure, transportation and environment. GENIVAR is one of the largest engineering services firm in Canada in terms of number of employees with more than 3,800 managers, professionals, technicians and technologists and support staff in over 70 locations in Canada and abroad.

SOURCE GENIVAR Inc.

For further information: For further information: Pierre Shoiry, President and Chief Executive Officer, GENIVAR Income Fund, (514) 340-0046, ext. 5104; Marlène Casciaro, Director of Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184

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GENIVAR Inc.

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