/Not for distribution to U.S. news wire services or dissemination in the United States /
TORONTO, Dec. 14 /CNW/ - Faircourt Asset Management Inc. (the "Manager") is pleased to announce that a preliminary prospectus for Metals Plus Income Corp. (the "Company") has been filed with the securities regulatory authorities of all the Canadian provinces for an initial public offering of Class A Shares (the "Shares") of the Company. Prospective purchasers may purchase Shares either by (i) cash payment, or (ii) an exchange of securities of any exchange eligible issuer listed in the prospectus (the "Exchange Option").
The Company's investment objectives are to (i) provide shareholders with monthly distributions, initially targeted to yield 6.0% per annum based on the issue price of $10.00 per Share; and (ii) the opportunity for capital appreciation, through investment in an actively managed portfolio consisting primarily of metals and materials companies. In addition, the Company will utilize an option overlay strategy similar to Faircourt Gold Income Corp, (FGX:TSX) to provide lower volatility and potentially greater returns than investors would otherwise have achieved by owning the individual securities in the portfolio directly.
The Exchange Option can be accepted only by means of a book-entry deposit through CDS Clearing and Depository Services Inc. to Canadian Stock Transfer Company, Inc., the exchange agent, not later than 5:00 p.m. (Toronto time) on January 25, 2011. Brokerage firms or other nominees may have an earlier deadline for receiving instructions concerning an exchange option deposit.
The Shares are being offered for sale by a syndicate of agents 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.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from a financial advisor or at www.sedar.com under the Company's profile. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
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.
For further information: For further information:
about the offering, contact Faircourt Asset Management Inc. at www.faircourtassetmgt.com 416-364-8989 or 1-800-831-0304