Mulvihill announces closing of warrant offerings

TORONTO, June 18 /CNW/ - (TSX: TCT.UN; CDD.UN) - Mulvihill Fund Services Inc. is pleased to announce the completion of warrant offerings for two of its funds under management. Gross proceeds from the exercise of warrants under the two offerings totalled over $7.3 million. Exercises were spread between the funds as follows:

    
    -------------------------------------------------------------------------
                                                 Securities       Gross
               Fund                   Ticker       Issued        Proceeds
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    Top 10 Canadian Financial Trust   TCT.UN    683,579 Units  $7.24 million
    -------------------------------------------------------------------------
    Core Canadian Dividend Trust      CDD.UN     17,193 Units  $0.12 million
    -------------------------------------------------------------------------
    

The net proceeds from the warrant offerings will provide the funds with additional capital that can be used to take advantage of attractive investment opportunities. The exercise of the warrants is also expected to increase the trading liquidity of the outstanding securities of the funds and to reduce the management expense ratios of the funds.

    
    John Mulvihill, President and CEO         Mulvihill Structured Products
    David Roode, President, Fund Services
    John Germain, Senior Vice-President       121 King Street West
    Sheila Szela, Vice-President,             Suite 2600
     Finance and CFO                          Toronto, Ontario, M5H 3T9
                                              (416) 681-3966; (800) 725-7172
                                              www.mulvihill.com
    A member of the Mulvihill                 hybrid@mulvihill.com
     Capital Management Inc.
     Group of Funds
    

A fund may pay investment management fees, trailing commissions, management fees and other expenses. For further information, please refer to the fund's publicly-filed documents, which are available on SEDAR at www.sedar.com. The securities of investment funds are not guaranteed, their values change frequently and their past performance may not be repeated.

SOURCE MULVIHILL FUND SERVICES INC.

For further information: For further information: Investor Relations at 416-681-3966, toll free at 1-800-725-7172 or visit www.mulvihill.com

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MULVIHILL FUND SERVICES INC.

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