/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
EDMONTON, Jan. 6 /CNW/ - Michael McKenna, President, Chief Executive
Officer and a director of the administrator of XS Cargo Income Fund (the
"Fund"), announces that he has acquired ownership of an additional 305,300
trust units ("Units") of the Fund, or approximately 5% of the outstanding
Units, through the facilities of the Toronto Stock Exchange. The Units were
acquired at prices ranging from $0.06 per Unit to $0.10 per Unit.
Assuming the conversion or exercise of all securities convertible into
Units beneficially owned by Mr. McKenna or entities controlled by him, Mr.
McKenna would beneficially own or exercise control or direction over, directly
or indirectly, 6,977,050 Units of the Fund, or approximately 56% of the
outstanding Units on a partially diluted basis.
Mr. McKenna acquired the Units for investment purposes. Mr. McKenna may
in the future take such actions in respect of his holdings as he may deem
appropriate in light of the circumstances then existing, including the
purchase of additional Units or other securities of the Fund through open
market purchases or privately negotiated transactions, or the sale of all or a
portion of his holdings in the open market or in privately negotiated
transactions to one or more purchasers.
For further information:
For further information: Michael McKenna, c/o Famous Brands (Edmonton)
Inc., 11730 - 163 Street, Edmonton, AB, T5M 3W3, (780) 413-4296