TORONTO, April 20 /CNW/ - Star Hedge Managers Corp. II (the "Fund") is
pleased to announce that the Fund has closed its initial public
offering of 6,000,000 Units at a price of $10.00 per Unit for gross
proceeds of $60,000,000.
The Fund has been created to provide long term capital growth by investing in a portfolio consisting
of private investment funds managed by three of Canada's leading
portfolio managers: Rohit Sehgal of Dynamic Funds, Eric Sprott of
Sprott Asset Management LP and Frank Mersch of Front Street Investment
Each Unit consists of one Class A Share of the Fund and one warrant
("Warrant") to purchase one Class A Share. Each Warrant entitles the
holder to purchase one Class A Share at a subscription price of $10.00
on April 30, 2012. Warrants may be tendered for exercise on and after
April 16, 2012 and up to April 27, 2012.
The Class A Shares and Warrants, comprising the Unit, will separate
immediately following the earlier of 30 days after today's date and the
date of the closing of the final exercise of the Over-Allotment Option,
which is exercisable at the option of the Agents until 30 days after
the date hereof to purchase up to 15% of the aggregate number of Units
issued at the closing of the offering on the same terms.
The Units are listed on the Toronto Stock Exchange under the symbol
XHG.A and the Class A Shares and the Warrants will (on the separation)
be listed on the Toronto Stock Exchange under the symbols XHG and
BMO Nesbitt Burns Inc. is the promoter and one of the Agents in
connection with the offering and will act as administrator of the Fund.
The Units were offered for sale by a syndicate of agents co-led by BMO
Capital Markets and CIBC, National Bank Financial Inc., Scotia Capital
Inc. and TD Securities Inc. and included Canaccord Genuity Corp.,
Dundee Securities Ltd., GMP Securities L.P., HSBC Securities (Canada)
Inc., Raymond James Ltd., Desjardins Securities Inc., Macquarie Private
Wealth Inc., Manulife Securities Incorporated and Wellington West
Capital Markets Inc.
This offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered.
Copies of the prospectus may be obtained from any member of the
syndicate listed above. Investors should read the prospectus before
making an investment decision.
SOURCE Star Hedge Managers Corp. II
For further information:
For more information, please visit www.bmocm.com