/NOT FOR DISTRIBUTION IN THE UNITED STATES/
TORONTO, June 1 /CNW/ - Livingston International Income Fund (TSX:
LIV.UN) announced today that it has entered into an agreement pursuant to
which a syndicate of underwriters led by Scotia Capital Inc. has agreed to
purchase and sell to the public, on a bought-deal basis, 6.0 million units
from treasury, at a price of $4.30 per unit, for gross proceeds of $25.8
million, together with an over-allotment option to purchase up to a further
900,000 units at the same price.
The issue will be offered in all provinces of Canada, except Quebec. The
units being offered have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended, or under state securities laws. The
offering is expected to close on or about June 19, 2009 and is subject to
regulatory and stock exchange approvals.
The Fund intends to use the proceeds of the offering to repay bank debt
and/or for general trust purposes.
"This offering indicates the level of capital market support for
Livingston in the longer term," said Peter Luit, president and chief executive
officer of Livingston International. "We welcome the opportunity to reduce the
Fund's debt through this offering."
Livingston International Income Fund is a trust that holds the securities
of Livingston International Inc., a leading North American provider of
customs, transportation and integrated logistics services. Headquartered in
Toronto, Ontario, Livingston has more than 2,500 employees located at
approximately 100 key border points, seaports, airports and other strategic
locations across Canada and the United States.
Certain statements in this release may be considered forward-looking
statements, which reflect management's current beliefs and expectations and
that involve assumptions about expected future events or results that are
subject to inherent risks and uncertainties. There is significant risk that
assumptions and other forward-looking statements will not prove to be
accurate. There can be no assurance that the proposed offering will be
completed. Many factors could cause actual future results, conditions or
events to differ materially from the results or outcomes expressed, including
risks related to trade volumes, deterioration of economic conditions, currency
volatility and continued availability of credit facilities and bonds, among
others. Investors are cautioned not to place undue reliance on assumptions or
For further information:
For further information: Dawneen MacKenzie, vice-president, public
affairs, 1-800-387-7582 ext. 3109