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TORONTO, Sept. 18, 2015 CanBanc Income Corp. (the "Fund")
(TSX: CIC) announces that it will automatically convert into an
exchange-traded fund on September 24,
2015 (the "Conversion Date"). In connection with the
conversion, the Fund has filed a final prospectus dated
September 18, 2015 (the
"Prospectus"), with the securities regulatory authorities of all of
the provinces and territories of Canada.
On the Conversion Date, the Fund's existing equity shares will
be re-designated as an exchange traded fund series of a new class
of shares of the Fund known as "First Asset CanBanc Income ETF"
(the "ETF"), and their ticker symbol will remain unchanged as
CIC.
The Fund also announces that its final distribution as a
closed-end fund in the amount of $0.1750 per share will be paid in the ordinary
course to shareholders of record on September 30, 2015. The distribution will
be paid on or about October 5,
2015. Commencing with the quarter-ending December 31, 2015, quarterly distributions (if
any) will be paid by the ETF to shareholders of record on the
second to last business day of each quarter, and will be paid on or
before the fourth business day following the record date.
Shareholders are not required to take any action in connection
with the conversion. Further details of the conversion are
described in the Prospectus and in the management information
circular that was mailed to shareholders on or about June 18, 2015.
First Asset - Smart SolutionsTM
First Asset is an independent investment firm, focused on
providing smart, low cost solutions that address the real-world
investment needs of Canadians - capital appreciation, income
generation and risk mitigation. Rooted in strong fundamentals,
First Asset's smart solutions strive to deliver better
risk-adjusted returns than the broad market while helping investors
achieve their personal financial goals.
This communication is intended for informational purposes
only. This offering is made only by prospectus. The prospectus
contains important detailed information about the ETF and its
shares. A copy of the prospectus may be obtained from your
investment advisor, First Asset or at www.sedar.com. Investors
should read the prospectus before making an investment decision.
Commissions, trailing fees, management fees and expenses all may be
associated with investments in the ETF. The ETF is managed by First
Asset Investment Management Inc.
SOURCE First Asset Close-End Funds