Blue Ribbon Income Fund

Blue Ribbon Income Fund

December 29, 2009 10:30 ET

Blue Ribbon Income Fund Announces Warrants Offering

TORONTO, ONTARIO--(Marketwire - Dec. 29, 2009) - Blue Ribbon Income Fund (TSX:RBN.UN) is pleased to announce that it has filed a preliminary prospectus relating to an offering of warrants to unitholders of the Fund as previously announced in the Blue Ribbon reorganization proposal dated October 21, 2009. Each unitholder will receive one-half of a warrant for each unit held on a record date which will be determined upon filing of the final prospectus. 

One warrant will entitle the holder to purchase a unit upon payment of the subscription price, which will be determined as the lesser of: (i) $9.62 (which is the sum of (a) the most recently calculated NAV per Unit prior to the date of filing and (b) the estimated per Unit fees and expenses of the offering) and (ii) the most recently calculated NAV per Unit prior to the date of filing the final prospectus plus the estimated per Unit fees and expenses of the offering. The Fund has applied to list the warrants and the units issuable on the exercise thereof on the TSX.

Successful completion of the warrants offering will provide the Fund with additional capital that can be used to take advantage of attractive investment opportunities and it is also expected to increase the trading liquidity of the units and reduce the ongoing management expense ratio of the Fund.

For further information, please contact your financial advisor, call Brompton's investor relations line at 416-642-9051 (toll-free at 1-866-642-6001) or visit our website at

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at Investment funds are not guaranteed; their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

Forward-looking statements in this press release include among other things, the opinion of the portfolio manager. While we consider these assumptions to be reasonable based on information currently available to the portfolio manager, they may prove to be incorrect. There are no assurances that the actual outcomes will match the forward-looking statements as a result of a number of risks and uncertainties that could cause actual results to differ materially from what we currently expect. Other than as required under securities laws, we do not undertake to update this information at any particular time.

Contact Information

  • Brompton Funds Management Limited
    David E. Roode
    Senior Vice President
    (416) 642-6008