Toronto/Calgary: Strategic Energy Management Corp. is pleased to announce that Strategic Energy Fund (the “Fund”) has filed a final short form prospectus dated March 28, 2006, which qualifies the distribution of rights (the “Rights”) and the units issuable on the exercise of the Rights in each of the provinces and territories of Canada. The Fund will issue Rights to subscribe for units to its unitholders of record at the close of business (Toronto time) on April 7, 2006.
Rights and subscription price: Unitholders of record on April 7, 2006 will receive one Right for each unit held. Three Rights will entitle the holder of the Rights to purchase one unit at a price of $12.00 until 4:00 p.m. (Toronto time) on May 2, 2006.
Discount to market price: The subscription price of $12.00 represents a discount of 5.9 per cent to the closing price of $12.75 per unit on March 28, 2006.
Additional subscription privilege: Holders of rights who fully exercise their rights are entitled to subscribe pro rata for additional trust units, if available, that were not subscribed for initially, on or before the expiry date.
Step-up privilege: Holders of rights not evenly divisible by three will be entitled to round up subscriptions to the next highest whole number.
Listing and trading: The Rights will commence trading on the Toronto Stock Exchange on April 5, 2006 under the symbol SEF.RT. The TSX has conditionally approved the listing of the units issuable upon the exercise of the Rights subject to the satisfaction of certain standard listing conditions.
Use of proceeds: The net proceeds of the Rights Offering will be invested by the Fund in accordance with the investment objectives, subject to the investment restrictions of the Fund.
Dealer manager: National Bank Financial Inc. and Blackmont Capital Inc. have been engaged as the dealer managers for the rights offering.
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, 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.
The Fund’s investments in established companies, including energy royalty and income trusts, are made with a view to generate sufficient income to permit the Fund to make monthly cash distributions to unitholders.
Investments in early-stage energy companies are focused on both private and public issuers with strong, experienced management teams that have proven track records of enhancing shareholder value and successfully executing exit strategies. As well, the Fund may invest in undervalued issuers where Sentry Select Capital Corp., investment advisor to the Fund, believes that capital appreciation can be realized.
Trading information and NAV: Strategic Energy Fund units trade on the Toronto Stock Exchange under the symbol SEF.UN. The Fund’s net asset value as at March 22, 2006 was $13.95 per unit.
Sentry Select Capital Corp.: The investment advisor is Sentry Select Capital Corp., a wealth management company with gross assets under management of approximately $9.0 billion, including more than $3.0 billion in the natural resource and energy sector.
More information: Investor Services (broker/investor inquiries) or Brian McOstrich (media inquiries)Tel: 1-888-246-6656 Fax: 416 364-1197 email@example.com www.sentryselect.com
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