TORONTO: The Board of Directors of CAPVEST Income Corp. (the “Company”) announces that the Company intends to repay all remaining outstanding 7% unsecured convertible debentures (the “Debentures”) upon their maturity on December 31, 2008 (the “Maturity Date”). The repayment price per Debenture held on the Maturity Date shall be paid in cash and shall equal the principal amount of $1,000 per Debenture plus all accrued and unpaid interest owed as of the Maturity Date. The Board of Directors is currently considering strategic alternatives for the Company following repayment of the Debentures and expects to provide guidance in this regard on or before the Maturity Date.
CAPVEST Income Corp.: The investment objective of CAPVEST Income Corp. is to generate income and capital appreciation through investing, directly or indirectly, in a diversified group of infrastructure and energy companies. Its common shares and Debentures trade on the TSX Venture Exchange (“TSX-V”) under the symbols CSV and CVS.DB, respectively.
Sentry Select Capital Corp.: Sentry Select Capital Corp., the Company’s Investment Manager, is a Canadian wealth management company that manages approximately $5.5 billion in gross assets as of September 30, 2008. The company offers a diverse range of investment products including closed-end trusts, mutual funds, hedge funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.
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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 Company. The forward-looking statements are not historical facts but reflect the Company’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, including, but not limited to, the ability of the Company to fully repay in cash those debentureholders as of the Maturity Date. Although the Company 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 Company 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.
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