Aston Hill Oil & Gas Income Fund files final prospectus for warrant offering
Dec 16, 2013, 16:03 ET
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./
TORONTO, Dec. 16, 2013 /CNW/ - Aston Hill Asset Management Inc., the manager of Aston Hill Oil & Gas Income Fund (TSX: OGF.UN) (the "Fund"), is pleased to announce that the Fund has filed a final prospectus for an offering of warrants of the Fund (the "Warrants") to unitholders of the Fund (the "Unitholders"). Each Unitholder of record on December 23, 2013 will receive one-half of one Warrant for each unit of the Fund (a "Unit") held.
One whole Warrant will entitle the holder to purchase a Unit of the Fund upon payment of the subscription price of $5.25 which is the sum of the most recently calculated net asset value per Unit prior to the date of filing the final prospectus plus the estimated per Unit fees and expenses of the offering of the Fund. Warrants not exercised by 5:00 p.m. (Toronto time) on June 10, 2014 will be void and have no value.
The Warrants distributed under this prospectus have been conditionally approved for listing on the TSX under the symbol OGF.WT. Warrants will not be eligible to received distributions provided, however, that if Units are issued on or before an applicable record date, Units received upon exercise of the Warrants will be eligible to receive distributions from the Fund.
Warrants will be distributed to client accounts by brokers after the record date. The Fund will pay an exercise fee of $0.08 per Warrant at the time the Warrant is exercised, payable to the investment advisor of the CDS participant whose client is exercising the Warrant.
The Warrants are not qualified for distribution in the United States of America. A copy of the prospectus has been filed on SEDAR at www.sedar.com under the Fund's profile.
Aston Hill Asset Management Inc., the manager of the Fund, is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSX: AHF). Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. Aston Hill Financial has offices in Calgary, Toronto and Halifax.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
SOURCE: Aston Hill Asset Management Inc.
For further information:
Please contact your financial advisor, call Aston Hill's Sales and Marketing support line at 416-583-2300 (toll-free at 1-800-513-3868), or visit our website at www.astonhill.ca
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