Trading Symbol: MAR
TORONTO, July 16, 2013 /CNW/ - Marret Resource Corp. (TSX: MAR) (the
"Company") announced today that it has declared a monthly dividend of
$0.023334 per share on its outstanding common shares. The dividend is
payable on August 15, 2013 to shareholders of record at the close of
business on July 31, 2013, and is an eligible dividend pursuant to
subsection 89(14) of the Income Tax Act (Canada).
The Company previously announced the adoption of a Dividend Reinvestment
Plan (the "Plan") which allows eligible shareholders to direct that
cash dividends paid on all or a portion of their common shares be
reinvested in additional common shares. For the purposes of this
dividend, any such shares to be acquired for the Plan will be purchased
by way of market purchase through the facilities of the TSX or
alternative Canadian markets in accordance with the terms of the Plan.
The price of the shares purchased by the Plan will be the average
market price, excluding any brokerage commissions, of all shares so
purchased by the Plan Agent, Computershare Trust Company of Canada. No
assurances can be made that there will be a sufficient number of
additional shares available in the market to satisfy the requirements
of the Plan. If an insufficient number of shares are available in the
market to satisfy the requirements of the Plan, any deficit will be
made up by a supplementary treasury purchase. The price of the shares
purchased by a supplementary treasury purchase, if applicable, will be
the average price of the shares successfully purchased by market
purchase, without any additional discount.
To participate in the Plan in time for the reinvestment of this dividend
payable on August 15, 2013, eligible shareholders whose shares are
registered in their name must enroll by no later than 4:00 p.m. on July
24, 2013. Eligible shareholders who hold their shares in the name of a
nominee should contact their nominee to inquire about the timing of
their enrolment. Any enrollment form received after such time will be
applied to the next applicable dividend record date. Enrollment under
the Plan can otherwise be made at any time. Once a participant has
enrolled in the Plan, participation continues automatically unless
terminated or suspended in accordance with the terms of the Plan.
A copy of the Plan and the enrolment form are available on Marret Asset
Management Inc.'s website at www.marret.com or by calling Marret at (416) 214-5800 or at Computershare's website at
About Marret Resource Corp.
The Company is focused on natural resource lending. The Company's
business is primarily directed to investing in public and private debt
securities of and making term loans (including bridge and mezzanine
debt) to issuers in a broad range of natural resource sectors,
including energy, base and precious metals and other commodities, and
issuers involved in exploration and development, and may also include
financing other resource related businesses and investing in public and
private equity and quasi-equity securities. The Company seeks to
generate income mainly from its lending activities, while taking
advantage of additional upside through equity participation in the
companies which it finances. Marret Asset Management Inc. is
responsible for implementing Company's investment strategy and managing
its investment portfolio.
About Marret Asset Management Inc.
Marret Asset Management Inc. is an employee owned credit fixed income
manager based in Toronto. Marret's experienced team of investment
professionals led by Barry Allan specialize exclusively in fixed income
and, particularly, in high yield debt strategies.
This news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited
to, the anticipated use of the net proceeds of the Offering.
Forward-looking information is necessarily based upon a number of
assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors which may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking information. Such risks
include, but are not limited to, market conditions and the other risks
identified in the short form prospectus dated June 23, 2011 and the
Company's annual information form, in both cases under the heading
"Risk Factors". There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained
in this press release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE: Marret Resource Corp.
For further information:
For further information about Marret Resource Corp. and its ongoing business, please contact:
Barry Allan, Chief Executive Officer at 416.214.5800