Byron Equities Inc. Closes Offer to Purchase Units of McCowan Arms Limited Partnership

TORONTO, ONTARIO--(Marketwire - June 5, 2012) - Byron Equities Inc. today announced that it has taken up and accepted for payment 48 units of limited partnership interest in McCowan Arms Limited Partnership deposited to its take-over bid offer as of the closing of business on May 31, 2012. Together with the 5 units purchased by Byron prior to the commencement of the bid, Byron holds 53 units representing 31.18% of the currently outstanding units. Byron also exercised control and direction over the 60 units owned by 1560101 Ontario Inc. In total, Byron owns, or exercises control and direction over, 113 units of limited partnership interest in McCowan Arms Limited Partnership, representing 66.47% of the currently outstanding units.