Toronto/Calgary-Strategic Energy Management Corp. is pleased to announce that Strategic Energy Fund (the gFundh) intends to file a preliminary prospectus across Canada, qualifying units (the gUnitsh) of the Fund which prospective purchasers can acquire for cash or in exchange for units or shares (gEligible Securitiesh) of Exchange Eligible Issuers (the gIssuersh) pursuant to the Exchange Option. The Fund also is pleased to announce it will make a special capital gains distribution of $0.25 per Unit.
Deposit Date and Closing-The Exchange Option will be open for acceptance by holders of securities of the 88 Issuers listed below until 4:00 pm (Toronto time) on August 25, 2005.
Special Capital Gains Distribution-The Fund will make a special capital gains distribution of $0.25 per unit, payable on September 30, 2005 to Unitholders of record on September 12, 2005. This special capital gains distribution will not be received by purchasers of Units pursuant to the Offering. Offering Price-The price per Unit (the gUnit Priceh) shall be equal to the lesser of (i) the weighted average trading price of the Units on the Toronto Stock Exchange (gTSXh) during the three consecutive trading days ending on August 25, 2005 (the gDeposit Dateh) as adjusted to reflect distributions declared by the Fund on or prior to the Deposit Date that will not be received by purchasers under the Offering, and (ii) the net asset value ("NAV") per unit on the Deposit Date.
Cash Option-A prospective purchaser may purchase Units in cash.
Exchange Option-Units may be purchased by the exchange of Eligible Securities of any Issuer named below. The number of Units issued in exchange for Eligible Securities of any particular Issuer will be determined by multiplying the number of such Eligible Securities deposited pursuant to the Exchange Option by the Exchange Ratio. The Exchange Ratio for any particular Issuer will be determined by dividing the weighted average trading price of such Eligible Securities on the TSX during the three consecutive trading days ended August 25, 2005, as adjusted to reflect distributions declared by such Issuer that will not be received by the Fund, by the Unit Price.
Acceptance-In order to utilize the Exchange Option, a prospective purchaser of Units is required to deposit the Eligible Securities with Computershare Investor Services Inc. through The Canadian Depository for Securities (gCDSh) prior to 4:00 pm (Toronto Time) on the Deposit Date. Such deposit must be made by way of book-entry deposit through a CDS participant. CDS participants may have earlier deadlines for receiving instructions from their clients to make deposits in connection with the Exchange Option.
Commitment of Principal Unitholder-John F. Driscoll intends to participate, directly or indirectly, in the Offering to maintain his proportionate beneficial interest in the Fund (without taking into account any Units issued pursuant to the over-allotment option to be granted to the Agents in connection with the Offering).
Maximum Ownership Level-The maximum number of Eligible Securities of any Issuer which the Fund may acquire pursuant to the Offering is that number of Eligible Securities which when combined with Eligible Securities of such Issuer beneficially owned, or over which control or direction is exercised by the Manager and persons acting jointly or in concert with the Manager, constitutes 19.9% of the outstanding Eligible Securities of such Exchange Eligible Issuer, or would result in more than 10% of the Fundfs Total Asset Value consisting of securities of Special Energy Issuers, or would result in more than 10% of the Fundfs Total Asset Value consisting of securities such Exchange Eligible Issuer.
Oil & Gas TrustsAcclaim Energy Trust (AE.UN)ARC Energy Trust (AET.UN)Baytex Energy Trust (BTE.UN)Bonavista Energy Trust (BNP.UN)Canadian Oil Sands Trust (COS.UN)Crescent Point Energy Trust (CPG.UN)Daylight Energy Trust (DAY.UN)Enerplus Resources Fund (ERF.UN)Esprit Energy Trust (EEE.UN)Fairborne Energy Trust (FEL.UN)Focus Energy Trust (FET.UN)Freehold Royalty Trust (FRU.UN)Harvest Energy Trust (HTE.UN)Ketch Resources Trust (KER.UN)NAL Oil and Gas Trust (NAE.UN)NAV Energy Trust (NVG.UN)Paramount Energy Trust (PMT.UN)Pengrowth Energy Trust Class B (PGF.B)Penn West Energy Trust (PWT.UN)Petrofund Energy Trust (PTF.UN)Peyto Energy Trust (PEY.UN)PrimeWest Energy Trust (PWI.UN)Progress Energy Trust (PGX.UN)Provident Energy Trust (PVE.UN) Sequoia Oil and Gas Trust (SQE.UN)Shiningbank Energy Income Fund (SHN.UN)StarPoint Energy Trust (SPN.UN) Thunder Energy Trust (THY.UN)Trilogy Energy Trust (TET.UN)Vault Energy Trust (VNG.UN)Vermilion Energy Trust (VET.UN)Viking Energy Royalty Trust (VKR.UN)Zargon Energy Trust (ZAR.UN)MidstreamAltaGas Income Trust (ALA.UN)Enbridge Income Fund (ENF.UN)Fort Chicago Energy Partners L.P. (FCE.UN)Inter Pipeline Fund (IPL.UN) Keyera Facilities Income Fund (KEY.UN)Pembina Pipeline Income Fund (PIF.UN)Taylor NGL Limited Partnership (TAY.UN)Power Algonquin Power Income Fund (APF.UN)Atlantic Power Corporation (ATP.UN) Boralex Power Income Fund (BPT.UN)Calpine Power Income Fund (CF.UN)Countryside Power Income Fund (COU.UN)Gaz Metro Limited Partnership (GZM.UN)
|Power (continued) Great Lakes Hydro Income Fund (GLH.UN)Innergex Power Income Fund (IEF.UN)Macquarie Power Income Fund (MPT.UN)Northland Power Income Fund (NPI.UN)TransAlta Power, L.P. (TPW.UN) TransCanada Power, L.P. (TPL.UN)Energy ServicesBadger Income Fund (BAD.UN)Builders Energy Services Trust (BET.UN)Cathedral Energy Services Income Trust (CET.UN)CCS Income Trust (CCR.UN)Formost Industries Income Fund (FMO.UN)Newalta Income Fund (NAL.UN)Mullen Group Income Fund (MTL.UN)Peak Energy Services Trust (PES.UN)Phoenix Technology Income Fund (PHX.UN)Stoneham Drilling Trust (SDG.UN)Total Energy Services (TOT.UN)Trimac Income Fund (TMA.UN)Trinidad Energy Services Income Trust (TDG.UN)Wellco Energy Services Trust (WLL.UN)CorporationsCalfrac Well Services Ltd. (CFW)Compton Petroleum Corporation (CMT) Duvernay Oil Corp. (DDV) Enbridge Inc. (ENB)Enerflex Systems Ltd. (EFX)Ensign Energy Services Inc. (ESI) Husky Energy Inc. (HSE)Nexen Inc. (NXY)Niko Resources Ltd. (NKO)NuVista Energy Ltd. (NVA)Petro-Canada (PCA)PetroKazakhstan Inc. (PKN)Precision Drilling Corporation (PD) Shell Canada Limited (SHC)Suncor Energy Inc. (SU)Talisman Energy Inc. (TLM)TransCanada Corporation (TRP)Real Resources Inc. (RER)Western Oil Sands, Inc. (WTO)MiscellaneousAvenir Diversified Income Trust (ART.UN)Fording Canadian Coal Trust (FDG.UN)Westshore Terminals Income Fund (WTE.UN)|
Strategic Energy Fund-Strategic Energy Fund is an investment trust that seeks to provide Unitholders with superior rates of return through a diversification strategy focused on investment opportunities within the Canadian energy sector. The Fund invests in established companies as well as early-stage energy companies and to a lesser extent special energy issuers, each with prospects for high growth in the near to medium term and the potential for long-term capital appreciation.
Trading information and NAV-Strategic Energy Fund units trade on the TSX under the symbol SEF.UN. The Fundfs Net Asset Value as at the close of business on July 27, 2005 was $14.63 per unit.
Sentry Select Capital Corp. The Investment Advisor is Sentry Select Capital Corp., which is a wealth management company with gross assets under management in excess of $7 billion, including more than $1.4 billion in energy sector-related investments.
Agents-The syndicate for the Offering is being co-led by First Associates Investments Inc. and Canaccord Capital Corporation.
Forward looking statements-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 Fund, including the potential for future distributions. When used in this news release, the words "in the future" and "believe" and the use of the future tense generally identify forward-looking statements. These statements reflect the Fundfs and the Managerfs current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, The Fund and the Manager cannot assure that the forward-looking statements contained in this news release will be realized.
More Information - Investor Services for broker/investor inquiries or Brian McOstrich for media inquiries. Tel: 1-888-246-6656 Fax: 416-364-1197 firstname.lastname@example.org www.sentryselect.com
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