TORONTO: Canadian Income Management Inc. (the “Corporation”) announces that the Toronto Stock Exchange (the “TSX”) has accepted its Notice of Debt Substantial Issuer Bid to purchase up to the total amount of its issued and outstanding 7% unsecured, subordinated debentures due August 31, 2012 (the “Debentures”) at a price of $80 (plus any accrued but unpaid interest) per $100 face value of each Debenture (the “Offer”). Currently there are 378,927 Debentures outstanding, with an aggregate face value of $37,892,700.
The Offer is being made through the facilities of the TSX and will be open for acceptance on December 27, 2007 from 10:00 a.m. EST to 12:00 p.m. EST. Holders of the Debentures (“Debentureholders”) who wish to accept the Offer must request their investment advisor, investment dealer, bank, trust company or other nominee to effect the transaction for them.
The Offer is intended to provide liquidity to the Debentureholders and the management of the Corporation believes that retiring Debentures will be accretive to the units of Canadian Income Management Trust.
Debentureholders may obtain a copy of the Notice of Debt Substantial Issuer Bid, without charge, by contacting Investor Services for Sentry Select Capital Corp. (“Sentry Select”) at 1-888-246-6656. A copy of the Notice of Debt Substantial Issuer Bid is also available through CIBC World Markets Inc., the dealer manager, by contacting Natalie Coutu at firstname.lastname@example.org
Sentry Select Capital Corp.: Sentry Select, the sub-adviser to the Corporation, is a Canadian wealth management company that manages approximately $8 billion in gross assets as of October 31, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. With 29 reporting issuers, Sentry Select is the manager and/or advisor to more TSX-listed entities than any other investment manager. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.
More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries)
Tel: 1-888-246-6656 Fax: 416-364-1197 email@example.com
This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Debentures. These statements reflect the Corporation’s and Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, the Corporation and Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.
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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).