Canadian World Fund Limited
TSX : CWF

Canadian World Fund Limited

June 07, 2007 10:23 ET

Canadian World Fund Limited Rights Offering Raises $19.3 Million

TORONTO, CANADA--(Marketwire - June 7, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR FOR RELEASE VIA US NEWSWIRE SERVICES

Canadian World Fund Limited (TSX:CWF) (the "Company") announces that its rights offering, which expired on June 5, 2007, closed today, raising aggregate gross proceeds of $19,304,631.25.

Rights Offering Results: The results of the rights offering are as follows:



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Number of shares Number of shares Total number Total gross
initially subscribed issued under of shares proceeds
for additional subscription issued
privilege

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3,006,385 82,356 3,088,741 $19,304,631.25

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Use of Proceeds: The net proceeds of the rights offering will be used in a manner consistent with the Company's existing investment objectives and strategies.

Dealer Managers: Blackmont Capital Inc. and TD Securities Inc. were engaged to be the dealer managers for the rights offering. The Company has paid the dealer managers an aggregate fee of $200,000 and will pay, subject to certain restrictions, a solicitation fee of $0.09 per common share issued under the rights offering in respect of each subscription procured by a member of the soliciting dealer group (including the dealer managers). No solicitation fee will be paid in respect of an exercise of fewer than 700 rights by any single beneficial subscriber, or in respect of rights exercised by insiders of the Company.

About Canadian World Fund: Canadian World Fund Limited is a closed-end equity fund founded in 1994. As its objective, the Company endeavors to provide superior long-term returns by investing globally in securities of primarily publicly traded growth companies. As its strategy, the Company principally utilizes a bottom-up investment style which includes seeking special situations in developed and emerging markets. The Company has been managed since inception by Morgan Meighen & Associates Limited, an independently-owned investment management firm, founded in 1955.

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