Faircourt Income & Growth Split Trust
TSX : FIG.UN
TSX : FIG.PR.A

Faircourt Asset Management Inc.

July 06, 2009 17:36 ET

Faircourt Income & Growth Split Trust Announces Rights Offering to Unitholders

TORONTO, ONTARIO--(Marketwire - July 6, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES.

Faircourt Asset Management Inc., (the "Manager") as manager of Faircourt Income & Growth Split Trust (TSX:FIG.UN)(TSX:FIG.PR.A) (the "Trust") announces today that it has filed a preliminary short form prospectus in each of the provinces of Canada in connection with a distribution to its unitholders of rights (the "Rights") exercisable for units ("Units") of the Trust (the "Rights Offering"). Each Unit consists of one trust unit of the Trust (a "Trust Unit") and one transferable warrant to acquire a Trust Unit (a "Warrant") at a price to be determined in consultation with the dealer manager, TD Securities Inc. (the "Dealer Manager"). Each Warrant entitles the holder thereof to purchase one Trust Unit on, and only on, June 25, 2010.

Under the Rights Offering, holders of the Trust Units as of the record date (to be established) will receive one Right for each Trust Unit held as of the record date. Each Right will entitle the holder thereof to purchase one Unit at a price to be determined in consultation with the Dealer Manager. The record date, expiration date of the Rights, the subscription price for the Units and the exercise price for the Warrants will be determined at the time of filing the final short form prospectus in respect of the Rights Offering.

The Rights Offering will include an additional subscription privilege under which holders of Rights who fully exercise their Rights will be entitled to subscribe for additional Units, if available, that were not otherwise subscribed for in the Rights Offering.

The Trust will use the net proceeds of this issue to increase capital for investment.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States. Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, and applicable state securities laws, or an available exemption from such registration.

For further information: on the Faircourt Funds, please visit www.faircourtassetmgt.com.

Contact Information

  • Faircourt Income & Growth Split Trust and
    Faircourt Asset Management Inc.
    Charles Taerk
    President and CEO
    (416) 364-8989 or 1-800-831-0304
    or
    Faircourt Income & Growth Split Trust and
    Faircourt Asset Management Inc.
    Douglas Waterson
    CFO and Portfolio Manager
    (416) 364-8989 or 1-800-831-0304
    www.faircourtassetmgt.com