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TORONTO, Jan. 31 /CNW/ - Faircourt Asset Management Inc. (the "Manager") is pleased to announce that Metals Plus Income Corp. (the "Company") has filed a final prospectus in respect of an initial public offering
of Class A shares (the "Shares") of the Company at a price of $10.00 per Share and a maximum offering
size of $100 million.
The Toronto Stock Exchange has conditionally approved the listing of the
Shares, subject to the Company fulfilling all of the customary
requirements. Trading of the Shares under the symbol ''MPI'' is
expected to commence on the closing date, February 18, 2011.
The Company's investment objectives are to provide shareholders with (i)
monthly distributions; and (ii) the opportunity for capital
appreciation, through investment in an actively managed portfolio
consisting primarily of equity securities of metals and materials
companies. In addition, the Company will utilize an option overlay
strategy similar to Faircourt Gold Income Corp. (FGX:TSX). The initial
indicative distribution of the Company is $0.05 per Share per month
representing a yield of 6.0% per annum based on the issue price of $10.00 per Share.
The syndicate of agents for the offering is being co-led by BMO Capital
Markets and CIBC, and includes National Bank Financial Inc., Scotia
Capital Inc., Canaccord Genuity Corp., HSBC Securities (Canada) Inc.,
GMP Securities L.P., Raymond James Ltd., Dundee Securities Corporation,
Mackie Research Capital Corporation, Macquarie Private Wealth Inc.,
Desjardins Securities Inc., Manulife Securities Incorporated and
Wellington West Capital Markets Inc. (collectively, the "Agents").
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or any applicable exemption from
the registration requirements. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities nor
will there be any sale of such securities in any state in which such
offer, solicitation or sale would be unlawful.
Certain statements contained in this news release constitute
forward-looking information. Forward-looking information may relate to
matters disclosed in this press release and to other matters identified
in public filings relating to the Company, to the future outlook of the
Company and anticipated events or results and may include statements
regarding the future financial performance of the Company. In some
cases, forward-looking information can be identified by terms such as
"may", "will", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "predict", "potential", "continue" or other
similar expressions concerning matters that are not historical facts.
Actual results may vary from such forward-looking information.
This offering is only made by prospectus. The final prospectus contains
important detailed information about the securities being offered.
Copies of the final prospectus may be obtained from one of the Agents
listed above. Investors should read the prospectus before making an
SOURCE Faircourt Asset Management Inc.
For further information:
about the offering, contact Faircourt Asset Management Inc. at 416-364-8989 (toll-free at 1-800-831-0304) or visit our website at www.faircourtassetmgt.com