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 investment decision.

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

Organization Profile

Faircourt Asset Management Inc.

More on this organization


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890