/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
TORONTO, Sept. 7, 2012 /CNW/ - Coxe Global Agribusiness Income Fund (the
"Fund") is pleased to announce that the Fund has closed its follow-on
offering of 775,000 units ("Units") at a price of $9.25 per Unit for
gross proceeds of $7,168,750. In addition, the Fund has granted the
agents an over-allotment option to acquire an additional 116,250 Units
at the offering price to cover over-allotments, exercisable for a
period of 30 days from the closing of the offering.
The Fund has been created to provide investors with long term capital
growth by executing the agribusiness investment thesis of Donald G. M.
Coxe, Chairman of Coxe Advisors LLP.
The investment objectives of the Fund are to provide holders of Units
with long term capital growth, quarterly distributions and lower
overall volatility of portfolio returns than would be experienced by
owning securities of Agribusiness Issuers (defined below) directly.
Distributions are currently targeted to be $0.50 per Unit per annum,
representing a yield of 5.0% per annum based on the initial issue price
of $10.00 per Unit. The Fund invests in a diversified portfolio (the
"Portfolio") of publicly-listed securities of issuers ("Agribusiness
Issuers") engaged in various aspects of agriculture, including food
production, such as grains and livestock, agriculture equipment and
sales, fertilizers, seed and specialty chemicals and agriculture
infrastructure, including water, energy and alternative energy,
transportation, agriculture technology and biotechnology related to the
agribusiness industry. The Portfolio is well-diversified within the
agribusiness industry and consists primarily of exchange-traded
equities, but may include exchange-traded funds, debt, cash or cash
In order to seek to earn income from option premiums to supplement the
dividends and distributions generated by the Portfolio and to lower the
overall volatility of returns associated with the securities of
Agribusiness Issuers held in the Portfolio, Connor, Clark & Lunn
Capital Markets Inc. writes covered call options from time to time on
up to 25% of the Portfolio.
The Units are listed on the Toronto Stock Exchange under the symbol
BMO Nesbitt Burns Inc. is the promoter and acts as administrator of the
The Units were offered for sale by a syndicate of agents led by BMO
Capital Markets that includes CIBC, National Bank Financial Inc.,
Scotiabank, TD Securities Inc., Macquarie Private Wealth Inc., Raymond
James Ltd., Canaccord Genuity Corp., GMP Securities L.P., Desjardins
Securities Inc., Mackie Research Capital Corporation, and Manulife
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy Units in the United States, nor shall
there be any sale of the Units in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The Units offered have not been
registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not
be offered or sold in the United States or to a U.S. person absent
registration under the 1933 Act or an applicable exemption from the
registration requirements of the 1933 Act and applicable state
This offering is only made by prospectus. The final short form
prospectus contains important detailed information about the securities
being offered. Copies of the final short form prospectus may be
obtained on www.bmocm.com or www.sedar.com or through IIROC registered investment advisors. Investors should read
the final short form prospectus before making an investment decision.
SOURCE: Coxe Global Agribusiness Income Fund
For further information:
For further information, please contact BMO Capital Markets at 1.866.864.7760.