Acuity Small Cap Corporation announces closing of $40 million initial public offering



    TORONTO, Aug. 2 /CNW/ - Acuity Small Cap Corporation (the "Corporation")
is pleased to announce that it has completed its initial public offering of
4,000,000 units (the "Units") of the Corporation at a price of $10.00 per Unit
for aggregate gross proceeds of $40,000,000. Each Unit is composed of one
class A share ("Class A Share") and one full Class A Share purchase warrant
("Warrant"). Each Warrant entitles the holder to purchase one Class A Share at
a subscription price of $12.00 at 4:00 p.m. (Toronto time) on January 15,
2010. The Corporation has granted the agents an over-allotment option to
acquire a number of Units comprised of up to 600,000 Class A Shares and up to
600,000 Warrants at a price of $9.70 per Class A Share and $0.30 per Warrant.
    The Class A Shares and the Warrants commenced trading today on the
Toronto Stock Exchange under the symbols "ASF" and "ASF.WT", respectively.
    The Corporation's investment objectives are: (i) to provide the holders
of Class A Shares ("Shareholders") with long-term capital appreciation and
(ii) to provide Shareholders with monthly cash distributions.
    Acuity Investment Management Inc. ("Acuity") will provide investment
advisory and portfolio management services to the Corporation. The Corporation
intends to invest on an opportunistic basis in a broadly diversified group of
issuers including, but not limited to, listed and unlisted issuers that are
engaged in (i) environmental technologies; (ii) the production of and/ or
exploration for basic and precious metals; (iii) energy (in particular,
uranium and oil & gas services); (iv) information technology; and (v) health
care and biotechnology.
    Acuity was formed in 1990 and currently has assets under management of
approximately $9.1 billion on behalf of mutual funds, pooled funds, closed-end
funds and private and institutional clients.
    The syndicate of agents for this offering was led by CIBC World Markets
Inc. and Canaccord Adams and included BMO Capital Markets, National Bank
Financial Inc., TD Securities Inc., Dundee Securities Corporation, HSBC
Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc.,
Blackmont Capital Inc., Desjardins Securities Inc., GMP Securities L.P., IPC
Securities Corporation, Richardson Partners Financial Limited and Wellington
West Capital Inc.

    %SEDAR: 00025423E




For further information:

For further information: about the offering, please call Ian O.
Ihnatowycz at Acuity Funds Ltd. at 1-800-461-4570

Organization Profile

ACUITY SMALL CAP CORPORATION

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ACUITY FUNDS LTD.

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