CSY CI Core Canadian Equity Income Class ETF

Can-60 Income Corp. (TSX:CSY) (the "Company") is pleased to announce the closing
of its initial public offering. Pursuant to the offering, the Company issued an
aggregate of 25 million shares (the "Shares") at $10 per Share, for gross
proceeds of $250 million. The Shares are listed on the Toronto Stock Exchange
under the symbol CSY.


The Company will invest on an equal weight basis in a portfolio (the
"Portfolio") of the securities of the issuers comprising the S&P/TSX(TM) 60
Index, from time to time (the "Portfolio Issuers"). The S&P/TSX(TM) 60 Index is
comprised of 60 of the largest Canadian issuers listed on the Toronto Stock
Exchange as measured by market capitalization. The Portfolio will initially be
approximately equal weighted, and each month First Asset Investment Management
Inc. (the "Manager" or "First Asset") will employ a covered call option writing
program on approximately, and not more than, 25% of the securities of each
Portfolio Issuer, in order to seek to earn attractive tax effective income from
dividends, distributions and call option premiums, lower the overall volatility
of returns associated with owning a portfolio of these securities, and to
generate capital appreciation for holders of Shares of the Company (the
"Shareholders").


The objectives of the Company are to provide Shareholders with: 



a.  quarterly distributions; 
    
b.  the opportunity for capital appreciation; and 
    
c.  lower overall volatility of Portfolio returns than would be experienced
    by owning a portfolio of the securities of the issuers that comprise the
    S&P/TSX 60 Index. 
    



The Company will not have a fixed distribution, but intends to set periodic
distribution targets. Based on the Manager's current estimates, the initial
distribution target for the Company is expected to be $0.1625 per quarter ($0.65
per annum to yield 6.5% on the subscription price of $10 per Share).


The Company has granted the agents for the offering an over-allotment option to
acquire additional shares at a price of $10 per share exercisable at any time
during the next thirty days.


The syndicate of agents for this offering was led by CIBC World Markets Inc.,
National Bank Financial Inc. and RBC Capital Markets, and included BMO Capital
Markets, Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP
Securities L.P., HSBC Securities (Canada) Inc., Wellington West Capital Markets
Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Dundee Securities
Corporation, and Mackie Research Capital Corporation.


"S&P/TSX 60(TM) Index" is a trademark of The McGraw-Hill Companies, Inc. and has
been licensed for use by the Company. The Company is not sponsored, endorsed,
sold or promoted by Standard & Poor's or its third party licensors.

CI Core Canadian Equity ... (TSX:CSY)
Historical Stock Chart
From Dec 2024 to Jan 2025

CI Core Canadian Equity ... (TSX:CSY)
Historical Stock Chart
From Jan 2024 to Jan 2025