Canso Select Opportunities Fund Announces Closing of Over-Allotment

TORONTO, Oct. 31, 2013 /CNW/ - Lysander Funds Limited ("Lysander") is pleased to announce that the syndicate of agents for the initial public offering of Canso Select Opportunities Fund (TSX: SCW.UN) (the "Fund") has exercised its over-allotment option and acquired an additional 235,000 Class A Units today at a price of $10.00 per Class A Unit.  In total, the Fund issued 8,445,844 Class A units and 789,156 Class F units (collectively, the "Units") at a price of $10.00 per Unit for aggregate gross proceeds of $92,350,000. The Class A Units of the Fund are listed on the Toronto Stock Exchange under the symbol SCW.UN. The Class F units are designed for fee-based and/or institutional accounts and will not be listed on a stock exchange, but are convertible into Class A units on a monthly basis.

The syndicate of agents for the offering was led by RBC Capital Markets and includes CIBC, Scotiabank, GMP Securities L.P., BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc. and Raymond James Ltd.

Certain statements in this press release are forward-looking statements, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "target", "seek", "will" and similar expressions to the extent they relate to the Fund, Lysander or Canso. Forward-looking statements are not historical facts but reflect the current expectations of the Fund, Lysander or Canso regarding future results or events. Such forward-looking statements reflect the Fund's, Lysander's or Canso's current beliefs and are based on information currently available to them. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results or events to differ materially from current expectations including global economic conditions. Some of these risks, uncertainties and other factors are described in the prospectus of the Fund dated September 25, 2013 under the heading "Risk Factors". Although the forward-looking statements contained in this press release are based upon assumptions that the Fund, Lysander and Canso believe to be reasonable, none of the Fund, Lysander and Canso can assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein were prepared for the purpose of providing prospective investors with information about the Fund and may not be appropriate for other purposes. None of the Fund, Lysander and Canso assumes any obligation to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE: Lysander Funds Limited

For further information:

Lysander Funds Limited
Raj Vijh, Chief Financial Officer
(416) 640-4275


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