First Asset

First Asset
First Asset Energy & Resource Fund
TSX : TRF.UN

First Asset Energy & Resource Fund
First Asset Energy & Resource Income & Growth Fund
TSX : TXL.UN

First Asset Energy & Resource Income & Growth Fund

October 03, 2007 19:45 ET

CORRECTION FROM SOURCE: First Asset Energy & Resource Fund and First Asset Energy & Resource Income & Growth Fund Announce Exchange Ratio

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2007) - A correction from source is issued in respect to the news release published at 19:24 ET, October 3, 2007. In the first paragraph, the issuance of units which read 456,595 should have read 456,565. The complete and corrected release follows.

First Asset Energy & Resource Fund (TSX:TRF.UN)("Fund I") and First Asset Energy & Resource Income & Growth Fund (TSX:TXL.UN)("Fund II") announce that upon the combination of the Funds which is scheduled to occur on October 4, 2007, Fund II will transfer to Fund I assets and liabilities worth $12,636,759.75 in exchange for the issuance of 456,565 units of Fund I. This exchange ratio is determined by dividing (i) the total net asset value of Fund II as at the close of business on October 3, 2007 by, (ii) the net asset value per unit of Fund I as at the close of business on October 3, 2007.

On a per unit basis, this means that each unit of Fund II will be converted into 1.4819 units of Fund I. The Limited Partners of Fund II will not be required to take any action in order to be recognized as limited partners of Fund I or to be in a position to trade units of Fund I following the transaction.

Contact Information

  • First Asset
    Paul Dinelle
    Executive Vice-President
    (416) 642-1289 or 1-877-642-1289
    Website: www.firstasset.com