CALGARY, Jan. 30, 2013 /CNW/ - Middlefield Group is pleased to announce that MINT Income Fund ("MINT" or the "Fund") has closed the offering of Rights to its Unitholders raising gross proceeds of $33,971,931 (3,774,659 Units), being the maximum permitted under the offering. Each Unitholder was given one Right for each Unit held on January 2, 2013. Three Rights entitled the holder to purchase one MINT Unit at a price of $9.00 until 4:00 p.m. (Toronto time) on January 28, 2013. The Rights Offering was significantly oversubscribed.
The net proceeds of the Rights Offering will be invested by the Fund in accordance with its investment objectives which include (i) monthly distributions (currently targeted to be $0.06 per Unit per month, or $0.72 per Unit per annum); (ii) a cost-effective method of reducing the risk of investing in high income securities; and (iii) the potential for capital appreciation by investing in an actively managed, diversified portfolio comprised primarily of high yielding equity securities.
MINT Income Fund trades on the Toronto Stock Exchange under the symbol MID.UN.
Certain statements included herein constitute forward-looking statements. Forward-looking statements include, among other things, statements regarding the Fund, the proposed use of net proceeds from the Rights Offering and investment opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the Fund, they are inherently subject to significant business, economic and competitive uncertainties and risks. Investors are cautioned not to put undue reliance on forward-looking statements.
SOURCE: MINT Income Fund
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For more information, please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or toll-free at 1.888.890.1868.