CALGARY, April 16 /CNW/ - Brickburn Funds Inc. (the "Fund") announces that the assets of Accretive Limited Partnership - I ("Accretive") were transferred to the Fund on a tax-deferred basis in exchange for Series MF shares of the Dominion Equity Resource Growth Class effective April 16, 2010. Accretive transferred assets valued at $2,398,394 to the Fund in exchange for 178,666 Series MF Shares of the Dominion Equity Resource Growth Class.
Mr. William D. Bonner, President and Portfolio Manager of the Fund stated, "The Accretive portfolio and the Dominion Equity portfolio held several common securities which made the merger quite easy. The combined portfolio remains focused on well positioned oil biased operators where well completion technological innovation has significantly enhanced project rates of return. We look forward to continuing the significant growth the portfolio has experienced over the last 12 months, which we can now share with the newest Dominion Equity shareholders."
Brickburn Funds Inc. is a Calgary-based mutual fund company offering three specialized corporate fund classes:
Dominion Equity Resource Growth Class
Brickburn Small Cap Class
Brickburn Income Growth Class
The funds are in continuous distribution under a simplified prospectus in BC, Alberta, Saskatchewan, Manitoba and Ontario.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements about the Fund. Forward looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions. In addition, any statement that may be made concerning future performance, strategies or prospects, and possible future fund action, is also a forward-looking statement. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. Forward-looking statements are not guarantees of future performance. There is significant risk that forward-looking statements will not prove to be accurate. We caution readers of this news release to not place undue reliance on our forward-looking statements, as a number of factors could cause actual future results, conditions and actions or events to differ materially from those expressed or implied in any forward-looking statements. Factors may include, but are not limited to, general economic, political, market and business conditions; fluctuations in interest rates and foreign exchange rates; regulatory developments; and actions by governmental authorities and the risks detailed in the Fund's simplified prospectus. Before making an investment decision, we encourage investors to consider these and other factors carefully. We do not undertake, and specifically disclaim, any obligations to update or revise any forward-looking information, whether as a result of new information, future developments, or otherwise, except as required by applicable law.
SOURCE BRICKBURN FUNDS INC.
For further information: For further information: Mr. William D. Bonner, President and Chairman, Brickburn Funds Inc., Phone (403) 303-4488 or Email: firstname.lastname@example.org, www.brickburn.com