TORONTO, Aug. 30 /CNW/ - Acuity Small Cap Corporation (the "Corporation")
is pleased to announce that it has issued an additional 200,000 class A shares
("Class A Shares") at a price of $9.70 per Class A Share and an additional
261,280 Class A Share purchase warrants ("Warrants") at a price of $0.30 per
Warrant for gross proceeds of $2,018,384.00 pursuant to the exercise by the
agents of their over-allotment option. 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. Including the over-allotment option, total
gross proceeds of the Corporation's initial public offering were
The Class A Shares and the Warrants trade 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 $8.7 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.
For further information:
For further information: about the offering, please call Ian O.
Ihnatowycz at Acuity Funds Ltd. at 1-800-461-4570