TORONTO: CAPVEST Income Corp. (the “Company”) is pleased to announce it has completed an initial closing of its offering of units on Thursday December 15, 2005. At the closing, the Company issued 14,115 units for aggregate gross proceeds of $16,938,000.
The final closing is scheduled for Tuesday December 20, 2005.
Offering - Each unit consists of one convertible unsecured debenture in the principal amount of $1,000 and 1,000 common shares of the Company. The unsecured convertible debenture forming part of the unit has an interest coupon of 7% per annum, payable quarterly, with a maturity date of December 31, 2008. The convertible debentures and the common shares will trade separately on the TSX Venture Exchange under the symbols CVS.DB and CVS irrespectively.
Offering Price - The offering price is $1,200 per unit ($1,000 principal amount convertible unsecured debenture and $200 per 1,000 common shares) with a minimum subscription of two units ($2,400).
Investment Objectives - The investment objective of CAPVEST is to generate capital appreciation, and to a lesser extent income, through exposure to commodity-related investments.
Use of Proceeds - The net proceeds of the offering will be used to provide direct and indirect exposure to commodity-related investments, including commodity-related income trusts and the Rogers International Commodity Index (RICI).
Agents - A syndicate of agents is being co-led by Blackmont Capital Inc. and Canaccord Capital Corporation, and includes Desjardins Securities Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Dundee Securities Corporation, Jory Capital Inc., Research Capital Corporation, Wellington West Capital Inc., Haywood Securities Inc., Industrial Alliance Securities Inc., IPC Securities Corporation, MGI Securities Inc., Rothenberg Capital Management Ltd., Union Securities Ltd., Argosy Securities Inc., Burgeonvest Securities Limited and Northern Securities Inc.
Investment Advisor - Sentry Select Capital Corp. is the Investment Advisor to the Company. Sentry Select is a wealth management company with gross assets under management in excess of $9 billion.
More Information - Investor Services for broker/investor inquiries or Brian McOstrich for media inquiries. Tel: 1-888-246-6656 Fax: 416-364-1197 email@example.com www.sentryselect.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Not for Distribution in the United States or over U.S. Wire Services.
Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (www.sedar.com).