THIS PRESS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS
FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES.
TORONTO, April 5 /CNW/ - NewGrowth Corp. (the "Company") is pleased to
announce the closing of its warrant offering. The gross proceeds of the
offering totaled $91.5 million, representing 100% of the maximum
available subscription amount.
The net proceeds of the offering will be invested in accordance with the
investment objectives of the Company.
NewGrowth Corp. is a mutual fund corporation whose investment portfolio
consists of publicly-listed securities of selected Canadian chartered
banks, telecommunication, pipeline and utility issuers. The Capital
Shares and Preferred Shares of NewGrowth Corp. are all listed for
trading on The Toronto Stock Exchange under the symbols NEW.A and
SOURCE NewGrowth Corp.
For further information:
Web site: www.scotiamanagedcompanies.com