TORONTO, Jan. 7 /CNW/ - MINT Income Fund (the "Fund") (TSX: MID.UN) is
pleased to announce that it has closed the offering of Rights to its
unitholders raising gross proceeds of $27,423,851 (4,219,054 Units).
Unitholders of record on November 24, 2008 received one Right for each MINT
Unit held. Three Rights entitled the holder to purchase one MINT Unit at a
price of $6.50 until 4:00 p.m. (Toronto time) on December 19, 2008. The
directors and officers of the Manager exercised all their Rights to acquire
Units under the Basic Subscription Privilege.
The net proceeds of the Rights Offering will be invested by the Fund in
accordance with its investment objectives. The Fund's investment objectives
are to provide holders of its Units with (i) a high level of sustainable
income distributed monthly, and (ii) a cost-effective method of reducing the
risk of investing in high income securities. The Fund diligently selects and
actively manages a diversified portfolio comprised primarily of high yielding
equity securities of issuers operating in various industries and geographic
Certain statements in this press release may constitute forward-looking
information, including statements regarding use of proceeds and distributions.
Forward-looking statements are subject to various risks and uncertainties that
could cause estimates to differ materially from the expectations expressed,
including the risk that the per Unit distributions may decrease, which could
occur for various reasons beyond the control of the Fund such as a decrease in
the distributions paid by the issuers of securities included in the Fund's
portfolio or a change in general economic conditions. The forward-looking
information contained in this press release constitutes the Fund's current
estimate, as of the date of this press release, with respect to the matters
covered hereby. Investors and others should not assume that any
forward-looking statement contained in this press release represents the
Fund's estimate as of any date other than the date of this press release.
For further information:
For further information: or to obtain a copy of the prospectus, please
visit our website at www.middlefield.com or contact Nancy Tham, Senior
Vice-President, at (416) 847-5349 or toll-free at 1-888-890-1868