TORONTO, ONTARIO--(Marketwire - Jan. 10, 2011) - Sentry Select Capital Inc. ("Sentry" or the "Manager") is pleased to announce that the unitholders of Sentry Select Commodities Income Trust, Oil Sands and Energy Mega-Projects Trust and Premier Value Income Trust (collectively, the "Terminating Funds") have voted, at special meetings held successively today, to approve the mergers of the Terminating Funds with Sentry Energy Growth and Income Fund and Sentry Canadian Income Fund (collectively, the "Continuing Funds"), (collectively, the "Mergers") as outlined in the table below.
|Terminating Fund||Continuing Fund|
|Sentry Select Commodities Income Trust||Sentry Energy Growth and Income Fund|
|Oil Sands and Energy Mega-Projects Trust||->||Sentry Energy Growth and Income Fund|
|Premier Value Income Trust||Sentry Canadian Income Fund|
The Mergers are expected to take place on or about February 4, 2011. Those Terminating Funds currently listed on the Toronto Stock Exchange are expected to be de-listed from trading on or about January 28, 2011.
Costs of the Mergers
All costs and expenses associated with the Mergers will be borne by the Manager.
Tax consequences of the Mergers
The Mergers will be effected on a taxable basis.
Investment objectives of the Continuing Funds
Sentry Energy Growth and Income Fund is an open-end mutual fund with approximately $119 million in assets as at January 7, 2011. The fund's investment objective is to provide regular income and long-term capital appreciation by investing primarily in a diversified portfolio of equity securities of Canadian companies involved in the energy sector.
Sentry Canadian Income Fund is an open-end mutual fund with approximately $1.1 billion in assets as at January 7, 2011. The fund's investment objective is to provide a consistent monthly income and capital appreciation by investing primarily in a diversified portfolio of Canadian securities including equities, fixed-income instruments, real estate investment trusts (REITs) and income trusts.
Sentry Investments is a Canadian asset management company that offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investments, covering a variety of domestic and global mandates.
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 Sentry. The forward-looking statements are not historical facts but reflect Sentry'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 proposed timing of the Mergers. Although Sentry 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. Sentry 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. Past results are not a guarantee of future performance. For a complete disclosure record for all of the Terminating Funds and of the Continuing Funds, please visit their respective profiles at www.sedar.com.
Sentry Select Capital Inc.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615
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).