/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES OF
AMERICA./
TORONTO, Nov. 5, 2015 /CNW/ - Can-60 Income Corp. (the
"Fund") (TSX: CSY) announces that it has filed a final
prospectus dated November 4, 2015
(the "Prospectus"), with the securities regulatory
authorities of all of the provinces and territories of Canada in connection with its conversion into
an exchange-traded fund ("ETF"). The Fund will
automatically convert into an ETF on November 12, 2015.
In connection with the conversion:
- The Fund's existing equity shares will be re-designated as ETF
shares of a new class known as "First Asset Core Canadian Equity
Income ETF" (the "First Asset ETF")
- The First Asset ETF's investment objectives, strategies and
restrictions will be as described in the Prospectus. A
copy of the Prospectus can be found on www.sedar.com
Share Consolidation
Before the opening of trading on
the Toronto Stock Exchange (the TSX) on November 12, 2015, and prior to the
re-designation, the existing equity shares of the Fund will be
consolidated on a 1:3 basis (the "Consolidation
Ratio"). The ticker symbol of the First Asset ETF shares
will remain "CSY".
As a result of the consolidation, the net asset value per share
will be increased by the same ratio as the Consolidation Ratio,
such that the consolidation will have no impact on the value of an
investor's aggregate holding of shares. Similarly, an
investor's cost per share will also be increased by the same ratio
as the Consolidation Ratio, however investors will hold fewer
shares, so the aggregate cost of an investor's shares will remain
the same.
No fractional shares will be issued in the consolidation and
where the consolidation would result in a fractional share, the
number of post-consolidation shares will be rounded down to the
nearest whole post-consolidation share in the case of a fractional
interest that is less than 0.5, or rounded up to the nearest whole
post-consolidation share, in the case of a fractional interest that
is 0.5 or greater.
No Action Required
Shareholders are not required to
take any action in connection with the conversion or the
consolidation. Further details of the conversion are described in
the Prospectus and in the management information circular that was
mailed to shareholders on or about August
31, 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
