MINT Income Fund Warrant Offering Raises $108.65 Million
February 16 2011 - 10:07AM
PR Newswire (Canada)
TORONTO, Feb. 16 /CNW/ -- TORONTO, Feb. 16 /CNW/ - MINT Income Fund
("MINT" or the "Fund") is pleased to announce that pursuant to the
exercise of Warrants it has raised total gross proceeds of $108.65
million, being the maximum permitted under its Warrant Offering
which expired yesterday. Units issued pursuant to this
Warrant Offering will participate in distributions declared by the
Fund commencing with the distribution declared to Unitholders of
record as at February 28, 2011. The net proceeds of the Offering
will be invested by the Fund in accordance with its investment
objectives. The investment objectives of the Fund are to provide
holders of Units with: (i) a high level of sustainable income
distributed monthly (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 in this press release may constitute forward-looking
information, including statements regarding use of proceeds and
expected future distributions. Forward-looking statements are
subject to various risks and uncertainties that could cause
estimates to differ materially from the expectations expressed,
including the risk that the per Unit distributions may decrease,
which could occur for various reasons beyond the control of the
Fund such as a decrease in the distributions paid by the issuers of
securities included in the Fund's portfolio or a change in general
economic conditions. The forward-looking information contained in
this press release constitutes the Fund's current estimate, as of
the date of this press release, with respect to the matters covered
hereby. Investors and others should not assume that any
forward-looking statement contained in this press release
represents the Fund's estimate as of any date other than the date
of this press release. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/16/c3240.html
pFor more information, please visit our website at a
href="http://www.middlefield.com/"www.middlefield.com/a or contact
Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349
or toll-free at 1.888.890.1868.bi/i/b/p
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