XS Cargo Income Fund
TSX : XSC.UN

XS Cargo Income Fund

September 30, 2007 16:38 ET

President and CEO of GP of XS Cargo Income Fund Acquires Additional Units

EDMONTON, ALBERTA--(Marketwire - Sept. 30, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Michael McKenna, the President, Chief Executive Officer and Director of the general partner of XS Cargo Income Fund (the "Fund")(TSX:XSC.UN), announces that he has acquired 305,300 Units, or approximately 5% of the current issued and outstanding Units of the Fund through the facilities of the Toronto Stock Exchange. Collectively, Michael McKenna currently owns or controls 6,171,750 Units of the Fund, or approximately 51.4% of the outstanding Units on a partially diluted basis assuming the conversion of the Exchangeable and Subordinated LP Units held by entities owned or controlled by Mr. McKenna.

Mr. McKenna acquired the Units for investment purposes as he believes that the Units are undervalued at this point in time. In the future, Mr. McKenna, either directly or indirectly, may acquire additional Units or dispose of such Units subject to a number of factors, including general market and economic conditions and other investment and business opportunities available to him.

Contact Information

  • XS Cargo Income Fund
    Michael McKenna
    (780) 413-4296