This press release is not for distribution in the United States.
TORONTO, Sept. 30, 2013 /CNW/ - Faircourt Asset Management Inc., (the "Manager") as manager of Faircourt Gold Income Corp. (TSX: FGX) (the "Company") announced today that it has filed a preliminary short form prospectus in each of the provinces of Canada in connection with a distribution to its holders of Class A Shares of rights (the "Rights") to purchase additional Class A Shares of the Company (the "Rights Offering").
Under the Rights Offering, holders of Class A Shares as of the record date (expected to be the middle of October 2013) will receive one Right for each Class A Share held as of the record date. Two Rights will entitle the holder thereof to purchase one Class A Share at a subscription price to be determined by the Company. Finalization of the record date, expiration date of the Rights and the subscription price for the Class A Shares will be determined at the time of filing the final short form prospectus in respect of the Rights Offering.
The Rights Offering will include an additional subscription privilege under which holders of Rights who exercise their Rights will be entitled to subscribe for additional Class A Shares, if available, that were not otherwise subscribed for in the Rights Offering.
The Company will use the net proceeds of the Rights Offering to acquire additional portfolio securities, in accordance with the investment objectives and investment strategy of the Company and subject to its investment restrictions.
Completion of the Rights Offering is subject to stock exchange and other regulatory approval.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States. Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, and applicable state securities laws, or an available exemption from such registration.
The Rights Offering is made by prospectus. The preliminary prospectus contains important detailed information about the securities being offered and should be read carefully before making an investment decision. Copies of the preliminary prospectus may be obtained from the Company or at www.sedar.com under the Company's profile.
SOURCE: Faircourt Asset Management Inc.
For further information:
on the Rights Offering or other Faircourt Funds, please visit www.faircourtassetmgt.com or contact: Charles Taerk, President and CEO or Douglas Waterson, CFO and Portfolio Manager at (416) 364-8989 or 1-800-831-0304.