TORONTO, Oct. 30 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") is pleased to announce that The Canadian Shield Fund (the "Fund") has filed a final prospectus for an initial public offering of combined units of up to $200 million. Each combined unit consists of one redeemable unit and one-half of one warrant to purchase one unit. Closing is scheduled for November 20, 2009. The Fund has granted to the agents an option (the "Over-Allotment Option") to acquire up to 15% of the number of combined units issued at the closing, exercisable within 30 days following the closing.
The Toronto Stock Exchange has conditionally approved the listing of the combined units. Trading under the symbol MSP.un is expected to commence on the date of closing. The units and warrants comprising the combined units will separate following the earlier of the closing of the Over-Allotment Option and 30 days following the closing. Following separation of the units and the warrants, they will trade separately under the symbols MSP.un and MSP.wt respectively.
The investment objectives of the Fund are to generate risk-adjusted absolute returns in Canadian dollars and to preserve the Fund's capital in all market environments. The Fund intends to achieve these objectives by investing the net proceeds of the offering in an actively-managed portfolio consisting mainly of Canadian securities.
The Fund has been designed to take advantage of the expertise of Parador Asset Management, LLC ("Parador"), which will provide investment advisory and portfolio management services to the Fund. Parador's Chief Investment Officer is Roger Mortimer.
The offering is being made through a syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets and including BMO Capital Markets, Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Blackmont Capital Inc., Desjardins Securities Inc., Dundee Securities Corporation, GMP Securities L.P., Manulife Securities Incorporated, Raymond James Ltd. and Wellington West Capital Markets Inc. Mackenzie Investments and Parador were represented by Osler, Hoskin & Harcourt LLP. The agents were represented by Blake, Cassels & Graydon LLP.
Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services. With $62.0 billion in assets under management as of September 30, 2009, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with $118 billion in total assets under management as of September 30, 2009.
To learn more, please contact your financial advisor or visit www.mackenziefinancial.com/msp.
SOURCE Mackenzie Financial Corporation
For further information: For further information: Trish Tervit, Environics Communications Inc., (416) 969-2809, firstname.lastname@example.org