CAPVEST Income Corp.

CAPVEST Income Corp.

January 06, 2005 09:33 ET

Biotech Medical Sciences Inc. and Entech Investments Inc. Complete Amalgamation: New Company Created; CAPVEST Income Corp. (TSX-V: CVS)


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CAPVEST INCOME CORP.

TSX VENTURE SYMBOL: CVS

JANUARY 6, 2005 - 09:33 ET

Biotech Medical Sciences Inc. and Entech Investments
Inc. Complete Amalgamation: New Company Created;
CAPVEST Income Corp. (TSX-V: CVS)

TORONTO, ONTARIO--(CCNMatthews - Jan. 6, 2005) - Biotech Medical
Sciences Inc. (TSX VENTURE:BTM) and Entech Investments Inc. (TSX
VENTURE:ETK) announced today that the amalgamation of the two companies
is complete.

The new company is called CAPVEST Income Corp.

Shareholder approval

Special Meetings of Shareholders of Entech Investments Inc. and Biotech
Medical Sciences Inc. were held December 21, 2004. All resolutions were
passed. The amalgamation was effective January 1, 2005.

Trading information

CAPVEST Income Corp. will commence trading on January 6, 2005 on the TSX
Venture Exchange under the symbol CVS.

CAPVEST Income Corp.

It is intended that CAPVEST Income Corp. will divest itself of its
existing investment portfolio and invest in a broad portfolio of income
and royalty funds.

There are now 160 publicly traded income trusts in Canada with a market
capitalization approaching $100 billion. Ownership of units in income
trusts is similar to ownership of shares in a company, but the rewards
of investing in trusts are different than common shares. Most trusts
have long-term, predictable cash flows that can be used to provide
regular distributions.

Investment adviser

Sentry Select Capital Corp. will provide investment advisory services to
CAPVEST Income Corp. Sentry Select is a wealth management company with
total assets under management of approximately $4 billion, including
more than $2 billion in the income trust sector.

Sandy McIntyre is one of the leading income trust managers in Canada,
with three decades of experience managing investment portfolios. Sandy
and his team have extensive knowledge of how trusts should be valued and
they engage in research to identify trusts that could have exceptional
performance over the long term.

Sentry Select manages 13 income trusts, eight mutual funds, oil and gas
flow-through investments and principal-protected notes. Sentry Select's
investment management team includes eight portfolio managers, two
analysts and two traders.

Management

The directors and officers of Biotech and Entech will continue as
directors and officers of CAPVEST Income Corp.

The securities offered hereby have not been registered under the U.S.
Securities Act of 1933, as amended and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES.



The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4



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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Investor Services
    (investor enquiries)
    1-888-246-6656
    416-364-1330 (FAX)
    or
    Jason Graham/Patrick Schryburt
    (media enquiries)
    1-888-246-6656
    416-364-1330 (FAX)
    www.sentryselect.com
    The TSX Venture Exchange has not reviewed and do not take responsibility
    for the adequacy or accuracy of this release.