TORONTO, July 12, 2017 /CNW/ - Lysander Funds Limited (the
"Manager") is pleased to announce that the Toronto Stock
Exchange ("TSX") has approved the notice of intention of
each of Canso Credit Income Fund and Canso Select Opportunities
Fund (each a "Fund" and, collectively, the "Funds")
to make a normal course issuer bid (each, an "NCIB") for its
outstanding Class A units (the "Units").
Purchases of Units pursuant to the NCIBs will be executed
through the facilities of the TSX and/or alternative Canadian
trading systems at market prices under the NCIB rules of the TSX.
The actual number of Units which may be purchased, and the timing
of any such purchases, will be determined by the Manager. All Units
purchased under the NCIBs will be cancelled. The NCIB for each Fund
shall terminate on the earlier of July 16,
2018 and the date on which such Fund has acquired the Units
sought under the NCIB. The Manager believes that each NCIB is in
the best interests of the Fund and its unitholders.
Canso Credit Income Fund
Pursuant to its NCIB notice, Canso Credit Income Fund (TSX:
PBY.UN) is entitled to purchase up to 1,310,810 Units, representing
10% of its public float, during the twelve month period
commencing July 17, 2017 and ending
on July 16, 2018. As of July 4, 2017, there are 13,108,108 Units of Canso
Credit Income Fund issued and outstanding and the public float is
13,108,108 Units. The Fund is permitted to purchase, under the
NCIB, up to 262,162 of its Units in a given 30-day period. Canso
Credit Income Fund will be purchasing Units pursuant to the NCIB.
Although, no purchases were made under the previous NCIB, the Fund
intends to purchase units under the current NCIB.
Canso Select Opportunities Fund
Pursuant to its NCIB notice, Canso Select Opportunities Fund
(TSX: SCW.UN) is entitled to purchase up to 324,507 Units,
representing 10% of its public float, during the twelve
month period commencing July 17, 2017
and ending on July 16, 2018. As of
July 5, 2017 there are 3,245,076
Units of Canso Select Opportunities Fund issued and outstanding and
the public float is 3,245,076 Units. The Fund is permitted to
purchase, under the NCIB, up to 64,901 of its Units in a given
30-day period. Canso Select Opportunities Fund will be purchasing
Units pursuant to the NCIB. Although, no purchases were made under
the previous NCIB, the Fund intends to purchase units under the
current NCIB.
This press release contains forward-looking statements. The
statements that are concerning each of the Fund's objectives,
goals, strategies, intentions, plans, beliefs, expectations and
estimates, and the business, operations, financial performance and
condition of each of the Funds are forward-looking statements. The
words "believe", "expect", "anticipate", "estimate", "intend",
"may", "will", "would" and similar expressions and the negative of
such expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. These forward looking statements are
subject to important risks and uncertainties that could cause
actual results to differ materially from current expectations.
While the Manager considers these risks and uncertainties to be
reasonable based on information currently available, they may prove
to be incorrect.
Commissions, trailing commissions, management fees and
expenses all may be associated with mutual fund investments.
Please read the prospectus before investing. Mutual funds are
not guaranteed, their values change frequently and past performance
may not be repeated. You will usually pay brokerage fees to your
dealer if you purchase or sell units of the Canso Credit Income
Fund or the Canso Select Opportunities Fund on the Toronto Stock
Exchange (TSX). Only Class A units of the Canso Credit Income Fund
and the Canso Select Opportunities Fund are listed on the TSX. If
the units are purchased or sold on the TSX, investors may pay more
than the current net asset value when buying units of these
investment funds and may receive less than the current net asset
value when selling them. There are ongoing fees and expenses
associated with owning units of the Canso Credit Income Fund and
the Canso Select Opportunities Fund. These investment funds
must prepare disclosure documents that contain key information
about the funds. You can find more detailed information about
the funds in these documents.
SOURCE Lysander Funds Limited