Faircourt Gold Income Corp. files preliminary prospectus


    TORONTO, Sept. 7 /CNW/ - Faircourt Asset Management Inc., the Manager of
Faircourt Gold Income Corp. (the "Company") is pleased to announce that the
Company has filed and has received a receipt from the securities regulators of
all the Canadian provinces for the preliminary prospectus dated September 6,
2007 for the initial public offering of units ("Units") of the Company at a
price of $10.00 per Unit. Each Unit consists of one Class A Share ("Share")
and one-half of a warrant ("Warrant"). Each whole Warrant entitles the holder
to purchase one Share at a subscription price of $10.00 on or before 5:00 p.m.
(Toronto time) on either on either October 30, 2009 or May 31, 2010.
    The Company's investment objectives are to provide holders of Shares (the
"Shareholders") with:

    (i)    monthly distributions, initially targeted to yield 5% per annum
           based on the issue price of $10.00 per Unit; and

    (ii)   the opportunity for capital appreciation.

    Faircourt Asset Management Inc. (the "Manager") will be responsible for
the Fund's overall investment strategy. The Company has been created to
provide investors with exposure to the leading global companies on the S&P TSX
Global Gold Index, while also providing monthly distributions. The Manager
believes the fundamentals for investments in gold companies are strengthening
due to increasing global demand for gold and related gold equity investments.
    In order to generate additional returns and to reduce risk, the Company
will use the expertise of Connor, Clark & Lunn Capital Markets Inc. to write
covered call options on securities held in the Portfolio and cash secured put
options on securities desired to be held in the Portfolio. It is the Manager's
belief that by utilizing the option strategy, it will assist in providing
Shareholders with lower volatility and potentially enhanced returns than they
would otherwise have achieved by owning the individual securities in the
Portfolio directly.
    A syndicate of agents is co-led by CIBC World Markets Inc. and BMO
Nesbitt Burns Inc., and includes National Bank Financial Inc., Scotia Capital
Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities
Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont
Capital Inc., Desjardins Securities Inc., Richardson Partners Financial
Limited and Wellington West Capital Inc.
    A preliminary prospectus relating to these securities has been filed with
securities commissions or similar authorities in each of the provinces of
Canada but has not yet become final for the purpose of a distribution to the
public. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale or any acceptance
of an offer to buy these securities in any province or territory of Canada
prior to the time a receipt for the final prospectus or other authorization is
obtained from the securities commission or similar authority in such province
or territory.

    %SEDAR: 00018592E

For further information:

For further information: Charles Taerk, President, or Douglas Waterson,
CFO, at (416) 364-8989 or 1-800-831-0304

Organization Profile

Faircourt Asset Management Inc.

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