TORONTO CAPVEST Income Corp. (the “Company”) is pleased to announce its results for the year ended December 31, 2005.
Highlights • The Company was created effective January 1, 2005 through the amalgamation of Biotech Medical Sciences Inc. and Entech Investments Inc., with combined net assets of $4,092,172. • In December 2005, the Company issued 17,042 combined units through a prospectus offering. The offering raised aggregate gross proceeds of $20,450,400, comprised of $3,408,400 for 17,042,000 common shares and $17,042,000 aggregate principal amount of debentures. Each combined unit consisted of one unsecured convertible debenture in the principal amount of $1,000 and 1,000 common shares of the Company. The debentures have an interest coupon of 7% per annum, payable quarterly, and have a maturity date of December 31, 2008. The debentures occur as a liability on the Company’s statement of net assets.• The Company had an 22% increase in net assets from operations of $912,123 for the year-ended December 31, 2005, representing an increase in net assets from operations per share of $0.03 or $0.01 per share on a diluted basis.• The Company’s net assets increased to $9,857,227 at December 31, 2005. The largest factor contributing to the increase in net assets was the offering of the combined units. • The Company’s net asset value (NAV) per common share was $0.22 as of December 31, 2005 and its closing market price per share was $0.19.
2005 financial results For the complete 2005 Annual Management Report of Fund Performance and Annual Financial Statements, please visit www.sentryselect.com or www.SEDAR.com.
Pursuant to National Instrument 81-106, financial results will be reported semi-annually, as of June 30 and December 31. Top 25 holdings and portfolio allocation by sector will be available quarterly on the Sentry Select website: www.sentryselect.com.
Investment objectivesThe investment objective of CAPVEST Income Corp. is to generate capital appreciation and, to a lesser extent, income, through exposure to commodity-related investments, including commodity-related income trusts and the Rogers International Commodity Index (RICI).
Sentry Select Capital Corp. Sentry Select Capital Corp. provides investment, administrative and marketing services to 24 exchange-listed closed-end funds, 17 of which have exposure to the income trust sector, 16 mutual funds, 11 principal-protected notes and three flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of March 31, 2006, the firm had approximately $8.5 billion in gross assets under management.
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