/Not for distribution to U.S. news wire services or dissemination in the
TORONTO, May 31, 2011 /CNW/ - Faircourt Asset Management Inc. (the "Manager") is pleased to announce that Energy Plus Income Corp. (the "Company") has filed a preliminary prospectus with the securities regulatory
authorities in each of the provinces of Canada in respect of an initial
public offering of Class A shares (the "Shares") of the Company at a price of $10.00 per Share.
The Company's investment objectives are to provide shareholders with (i)
a tax efficient yield in the form of monthly distributions primarily
consisting of capital gains dividends and (ii) the opportunity for
capital appreciation, through investment in a portfolio comprised of
equity securities (the ''Portfolio Securities'') of publicly listed companies primarily engaged in the exploration,
development, production or refining of crude oil, thermal coal, natural
gas or uranium, as well as companies that provide services or
infrastructure relating to these industries and through the writing of
covered call options on Portfolio Securities. In order to seek to
generate additional returns and reduce risk, the Company will write
covered call options on securities held in the portfolio or write cash
secured put options on securities desired to be held in the portfolio
from time to time. Connor, Clark & Lunn Capital Markets Inc. has been
retained as the option advisor to execute and maintain the option
writing program of the Company. The initial indicative distribution of
the Company is $0.05417 per Share per month representing a yield of
6.5% per annum based on the issue price of $10.00 per Share.
The syndicate of agents for the offering is being led by BMO Capital
Markets and includes National Bank Financial Inc., Scotia Capital Inc.,
TD Securities Inc. Canaccord Genuity Corp., GMP Securities L.P., HSBC
Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities
Inc., Dundee Securities Ltd., Mackie Research Capital Corporation,
Macquarie Private Wealth Inc., Manulife Securities Incorporated and
Wellington West Capital Markets Inc. (collectively, the "Agents").
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in each of the provinces of Canada. The preliminary
prospectus is still subject to completion or amendment. Copies of the
preliminary prospectus may be obtained from a financial advisor or at www.sedar.com under the Company's profile. There will not be any sale or any
acceptance of an offer to buy the securities until a receipt for the
final prospectus has been issued.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or any applicable exemption from
the registration requirements. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities nor
will there be any sale of such securities in any state in which such
offer, solicitation or sale would be unlawful.
Certain statements contained in this news release constitute
forward-looking information. Forward-looking information may relate to
matters disclosed in this press release and to other matters identified
in public filings relating to the Company, to the future outlook of the
Company and anticipated events or results and may include statements
regarding the future financial performance of the Company. In some
cases, forward-looking information can be identified by terms such as
"may", "will", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "predict", "potential", "continue" or other
similar expressions concerning matters that are not historical facts.
Actual results may vary from such forward-looking information.
SOURCE Faircourt Asset Management Inc.
For further information:
For further information about the offering, contact Faircourt Asset Management Inc. at 416-364-8989 (toll-free at 1-800-831-0304) or visit our website at www.faircourtassetmgt.com.