Energy Leaders Income Fund Files Final Prospectus
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/30/12 -- Harvest Portfolios Group Inc. (the "Manager") is pleased to announce that a final prospectus for Energy Leaders Income Fund (the "Fund") has been filed with, and a receipt therefor issued by, the securities regulatory authorities in each of the provinces and territories of Canada.
The Fund proposes to issue units (the "Units") of the Fund at a price of $12.00 per Unit (the "Offering"). Each Unit consists of one transferable trust unit ("Trust Unit") and one Trust Unit purchase warrant ("Warrant"). The Units will separate into Trust Units and Warrants upon the earlier of the closing of the over-allotment option and the 30th day following the closing of the Offering. Each Warrant entitles the holder to purchase one Trust Unit at the subscription price of $12.00 per Trust Unit at 5:00 p.m. (Toronto time) on and only on June 14, 2013.
The Fund will invest in a portfolio (the "Portfolio") of equity securities of 15 Energy Issuers listed on a North American stock exchange that have the following characteristics: a market capitalization of at least $10 billion determined at the time of investment; are currently paying a dividend/distribution; are eligible to have options written on their equity securities; and operations and/or offices in at least two countries.
The Portfolio will be initially acquired and thereafter rebalanced quarterly on an equally weighted basis by Highstreet Asset Management Inc. (the "Investment Manager" or "Highstreet").
The investment objectives of the Fund are to provide Unitholders with (i) monthly cash distributions; (ii) the opportunity for capital appreciation; and (iii) lower overall volatility of the Portfolio returns than would otherwise be experienced by owning the equity securities held by the Fund directly; by investing in the Portfolio and writing covered call options on up to 33% of the equity securities of each Energy Issuer held in the Portfolio.
The indicative distribution amount is initially targeted to be $0.07 per Trust Unit per month ($0.84 per annum) representing an annual cash distribution of 7% based on the 12.00 per Unit issue price.
Highstreet will be responsible for the execution of the Fund's overall investment strategy, including managing the composition of the Portfolio.
The Offering is scheduled to close on May 18, 2012.
The syndicate of agents is being led by CIBC and co-led by RBC Capital Markets, and includes Scotiabank, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Macquarie Private Wealth Inc., Raymond James Ltd., Burgeonvest Bick Securities Limited, Dundee Securities Ltd. and Industrial Alliance Securities Inc. (collectively, the "Agents").
Counsel on behalf of the Fund and the Manager is Borden Ladner Gervais LLP and counsel on behalf of the Agents is Blake, Cassels & Graydon LLP.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund, the Manager and/or the Investment Manager. The forward-looking statements are not historical facts but reflect the Fund's, the Manager's and/or Investment Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, the Manager and/or the Investment Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, the Manager and/or the Investment Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
This Offering is only made by a prospectus dated April 27, 2012 (the "Prospectus"). The Prospectus contains important information relating to the securities being offered. Copies of the Prospectus may be obtained from any of the Agents. Investors should read the Prospectus before making an investment decision.
All capitalized terms noted herein but not defined are as defined in the Prospectus.
For additional information or a copy of the Prospectus, please contact your registered financial advisor.
Contacts:
Harvest Portfolios Group Inc.
Michael Kovacs
1-866-998-8298
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Datum: 30.04.2012 - 19:36 Uhr
Sprache: Deutsch
News-ID 140748
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"Energy Leaders Income Fund Files Final Prospectus"
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