GENIVAR Income Fund

GENIVAR Income Fund

September 25, 2009 08:05 ET

GENIVAR Income Fund Announces $100 Million Equity Financing

MONTREAL, QUEBEC--(Marketwire - Sept. 25, 2009) -


GENIVAR Income Fund (TSX:GNV.UN) ("GENIVAR" or the "Fund") today announced that it has agreed to issue 3,809,500 trust units (the "Units") from treasury of the Fund on a bought deal basis to a syndicate of underwriters led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc. The Units will be offered at a price of $26.25 per Unit. The gross proceeds of the offering to the Fund will be approximately $100 million and the Units will be offered by way of short form prospectus in each of the provinces of Canada. The financing is subject to all normal regulatory approvals and is expected to close on or about October 16, 2009.

The net proceeds of the financing will be used for debt repayment and for general purposes of the Fund.

The Fund pays distributions on a monthly basis to unitholders of record on the last business day of each month. Payments are made on or about the 15th day after each record date. The first distribution that purchasers of the Units offered will be entitled to receive is the distribution expected to be paid on or about November 15, 2009 to holders of record on October 31, 2009 for the period of October 1, 2009 to October 31, 2009.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Units offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States, except pursuant to applicable exemptions from registration.

About GENIVAR Income Fund
GENIVAR is a leading Canadian engineering services firm providing private and public sector clients with a full range of professional consulting services through all execution phases of a project including planning, design, construction and maintenance. Its clients, which are of varying sizes, fall into various market segments such as building, industrial and power, municipal infrastructure, transportation and environment. GENIVAR is one of the largest engineering services firm in Canada in terms of number of employees with more than 3,800 managers, professionals, technicians and technologists and support staff in over 70 locations in Canada and abroad.

Forward-Looking Information
Certain information regarding GENIVAR contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although GENIVAR believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. GENIVAR's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Contact Information

    Marlene Casciaro
    Director of Communications
    (514) 340-0046, ext. 5184