MONTREAL, Nov. 28, 2011 /CNW/ - O'Leary Funds Management LP (the
"Manager"), the trustee and manager of O'Leary Canadian Diversified
Income Fund (the "Fund") announces that the date to determine the
exchange ratios for the exchange offer by the Fund has been extended to
December 5, 2011.
The Fund has been created to invest in investment grade and high yield
corporate bonds and dividend-paying equity securities primarily of
large and mid-cap Canadian issuers, and to a lesser extent of
dividend-paying equity securities of large-cap U.S. issuers.
The Fund is an investment trust governed by the laws of the Province of
Ontario which proposes to issue transferable units (the "Units") of the
Fund at a price of $12.00 per Unit.
The Fund's investment objectives are: (i) to provide holders of Units
with monthly distributions; and (ii) to preserve capital.
Prospective purchasers may purchase Units either by: (a) cash payment;
or (b) an exchange of freely tradeable securities of any exchange
eligible issuer. This exchange option provides investors the
opportunity to consolidate their existing convertible bonds, dividend
paying equity securities and preferred shares into Units of the Fund.
Prospective purchasers under the exchange option are required to
deposit securities of exchange eligible issuers with Computershare
Investor Services Inc. through CDS Clearing and Depository Services
Inc. prior to 5:00 p.m. (Toronto time) on December 5, 2011.
The Manager has retained Stanton Asset Management Inc. (the "Portfolio
Advisor") to provide investment advisory services to the Fund. The
Portfolio Advisor is a Canadian investment firm focused on global
investment opportunities, and is also the manager of a variety of
The syndicate of agents is co-led by CIBC and RBC Capital Markets, and
includes National Bank Financial Inc., BMO Capital Markets, Scotia
Capital Inc., TD Securities Inc., Macquarie Capital Markets Canada
Ltd., Raymond James Ltd., Canaccord Genuity Corp., GMP Securities L.P.,
Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research
Capital Corporation, Manulife Securities Incorporated and MGI
Securities Inc. (collectively, the "Agents").
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect", "intend", "will" and similar
expressions to the extent they relate to the Fund. The forward-looking
statements are not historical facts but reflect the Manager's current
expectations regarding future results or events. These forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from current
expectations. Although the Manager believes that the assumptions
inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and, accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The Manager
undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law.
A preliminary prospectus dated November 9, 2011 containing important
information relating to these securities has been filed with securities
commissions or similar authorities in certain jurisdictions of Canada.
The preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus may be obtained from any of the
Agents. 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
All capital terms noted herein but not defined are as per the
preliminary prospectus dated November 9, 2011.
SOURCE O'Leary Funds Management LP
For further information:
for media inquiries or additional information: please contact O'Leary Funds at firstname.lastname@example.org or at 1-877-849-2004 x226.