Canadian High Income Equity Fund

Canadian High Income Equity Fund

January 28, 2010 12:19 ET

Canadian High Income Equity Fund Files Final Prospectus

TORONTO, ONTARIO--(Marketwire - Jan. 28, 2010) -

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

Brompton Funds Management Limited (the "Manager") is pleased to announce that Canadian High Income Equity Fund (the "Fund") has filed a final prospectus for a public offering of Combined Units, with a maximum offering size of $200 million. Each Combined Unit is offered at a price of $12.00, and will separate into one Unit and one Warrant immediately following the closing of the offering. Each Warrant entitles the holder to purchase one Unit at a subscription price of $12.00 on or before 5:00 p.m. (Toronto time) on April 15, 2011.

The Toronto Stock Exchange has conditionally approved the listing of the Units and the Warrants, subject to the Fund fulfilling all of the customary requirements. Trading of Units under the symbol CIQ.UN and Warrants under the symbol CIQ.WT is expected to commence on the closing date, February 18, 2010.

The Fund's investment objectives will be to provide Unitholders with (i) a high monthly cash distribution, and (ii) the opportunity for capital appreciation, through investment in an actively managed portfolio of publicly listed or traded Canadian securities, including income trusts, royalty trusts, real estate investment trusts, dividend paying common equities, preferred securities and, to a lesser extent, debt securities, non-dividend paying equities and foreign securities.

The Fund has been created to capitalize on the many undervalued, high income investment opportunities in the income trust sector and the expanding high-income common equity market that the Investment Manager, Bloom Investment Counsel, Inc., believes will emerge in 2011 and beyond. The Investment Manager is a specialist in income-oriented investments and has a strong, long-term track record of managing portfolios of Canadian income trusts and dividend paying equities, including the Investment Manager's flagship fund, Blue Ribbon Income Fund. In addition, Paul Bloom was recognized in September 2009 as one of the 50 TopGun Canadian Equity Portfolio Managers by Brendan Wood International.

The syndicate of agents for the offering is being co-led by CIBC World Markets Inc. and RBC Capital Markets, and includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Corporation, Manulife Securities Incorporated, Research Capital Corporation, Macquarie Capital Markets Canada Ltd., and Wellington West Capital Markets Inc.

For further information, please contact your financial advisor, call our investor relations line at 416-642-9051 (toll-free at 1-866-642-6001), or visit our website at www.bromptongroup.com.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Combined Units nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

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