TORONTO: Strategic Energy Management Corp. (the “Manager”) announces an update on the conversion of Strategic Energy Fund (the “Fund”) into an open-end mutual fund. The Manager has been advised that the Canadian Securities Regulators are still in the process of considering the exemption application. It is anticipated that the Manager will have an indication late on Monday February 9, 2009 on the status of the application. Upon being advised by the regulators that the required order will be issued, unitholders will be updated with respect to the timing of the completion of the conversion process.
On January 19, 2009, unitholders of the Fund approved the Fund’s conversion into an open-end mutual fund (the “Conversion”) to be called Sentry Select Energy Income Fund (the “Mutual Fund”). Following the Conversion, the Mutual Fund will be managed by Sentry Select Capital Inc. (“Sentry Select”), a wholly-owned subsidiary of Sentry Select Capital Corp.
Sentry Select Capital Inc.: Sentry Select Capital Inc. is a Canadian wealth management company that 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.
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Certain statements included in this news release constitute forward-looking statements, including, but not limited to, timing and consequences of the Conversion. Forward-looking information can often be identified by the expressions ‘‘expect’’, ‘‘intend’’, “will” and similar expressions to the extent they relate to the Manager and Sentry Select. The forward-looking statements are not historical facts but reflect the Manager’s and Sentry Select’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 implementation of the Conversion, the receipt of any necessary regulatory approvals in a timely manner or at all and other factors which are not currently known, as well as changes in the global economy, general economic and business conditions, existing governmental regulations and other market factors specific to the energy sector and the securities of energy companies. Although the Manager and Sentry Select believe 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 Manager and Sentry Select undertake 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. For a complete disclosure record for the Fund please visit the Fund’s profile on www.sedar.com.
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).