TORONTO, April 5 /CNW/ - CaRIT Limited, trustee of Canadian Resources
Income Trust ("CaRIT" or the "Trust"), announced today that the final
condition required to extend the term of the Trust for an additional three
years to March 31, 2010 has been met. Holders ("Unitholders") of CaRIT units
("Units") previously approved the extension of the term of the Trust subject
to the condition that a minimum of 1,600,000 Units remain issued and
outstanding following the expiry today of the special retraction right of
Unitholders, as described in the information circular of the Trust dated
February 20, 2007.
Under the special retraction, 547,044 Units were tendered to the Trust
for retraction. Retracting Unitholders will receive the net proceeds from the
sale of their pro-rata share of portfolio securities and their pro-rata share
of other net assets. The holders of the remaining 3,217,698 Units will
continue to receive monthly distributions as declared by the Trustee of CaRIT
based on distributions received in the month from a fixed portfolio of trust
units of selected Canadian income funds focused on the natural resource
industry, less CaRIT's estimated operating expenses for the period.
Trust Units of CaRIT are listed for trading on The Toronto Stock Exchange
under the symbol RTU.UN.
For further information:
For further information: Investor Relations, CaRIT Limited, Trustee of
Canadian Resources Income Trust, (416) 863-7144, E-mail:
email@example.com, Web site: www.scotiamanagedcompanies.com