Capital Gains Income STREAMS
TSX : CGQ
TSX : CGQ.E

Capital Gains Income STREAMS

November 29, 2013 12:24 ET

Capital Gains Income STREAMS Provides Final Merger Exchange Ratio

TORONTO, ONTARIO--(Marketwired - Nov. 29, 2013) - Capital Gains Income STREAMS ("CG STREAMS") provides the final exchange ratio and other details relating to the merger of CG STREAMS into Dividend 15 Split Corp ("Dividend 15").

All Capital Yield (TSX symbol CGQ) and Equity Dividend (TSX symbol CGQ.E) shares outstanding on December 1, 2013 will automatically be exchanged into an equal dollar amount of Dividend 15 units based on the November 28 net asset value (NAV) exchange ratios. One unit of Dividend 15 is comprised of one Class A share (TSX symbol DFN) and one Preferred share (TSX symbol DFN.PR.A).

The final exchange ratios are as follows:

1 CGQ share will be exchanged into 1.22352296 DFN shares and 1.22352296 DFN.PR.A shares
1 CGQ.E share will be exchanged into 0.19516249 DFN shares and 0.19516249 DFN.PR.A shares
(Fractional shares will not be issued)

It is expected that CGQ and CGQ.E shares will be halted for trading by the TSX before the opening of trading on December 3, 2013 and delisted from the TSX on that day. Any CGQ or CGQ.E purchased prior to the halt of these shares will receive the applicable number of DFN and DFN.PR.A shares upon settlement. The exchange of CGQ and CGQ.E into DFN and DFN.PR.A shares will occur automatically and no further action is required by CGQ or CGQ.E shareholders. This exchange is a non taxable event.

Based on the November 28, 2013 NAV exchange ratios and the market value of a Dividend 15 unit (as at November 28, 2013), CGQ shareholders will receive the equivalent of $ 25.69 in market value of Dividend 15 units for each CGQ share exchanged. CGQ.E shareholders would receive the equivalent of $4.10 in market value of Dividend 15 units for each CGQ.E share exchanged.

For full details on the merger, please review the Notice of Special Meeting of Shareholders and the Management Information Circular which is available on SEDAR and the Company's website at www.quadravest.com.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company's current expectations regarding future results or events. These forward- looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Contact Information

  • Capital Gains Income STREAMS
    Investor Relations
    416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
    www.quadravest.com