Dividend Select 15 Corp.: Announces Rights Offering

TORONTO, ONTARIO--(Marketwired - Aug. 12, 2014) - Dividend Select 15 Corp. (the "Company") announces that it will issue Rights to all Equity Shareholders thereby allowing existing Shareholders to increase their investment in the Company. Each Shareholder will be entitled to receive one Right for each Equity Share held as of the record date of August 25, 2014. Four Rights will entitle the Shareholder to purchase one Equity Share for the subscription price of $10.32. The Rights are exercisable at any time once issued and will expire at 5:00 p.m. (EST) on November 3, 2014.

The net proceeds from the subscription of Equity Shares will be used to acquire additional securities in accordance with the Company's investment objectives. The exercise price is consistent with the current trading price and accretive to the most recently published net asset value per Equity Share. The offering is expected to increase the trading liquidity of the Company and reduce the management expense ratio.

The Equity Shares trade on the Toronto Stock Exchange (the "TSX") under the symbol "DS". The Rights will be listed and will trade on the TSX until 12:00 noon (EST) on November 3, 2014. The Rights will be eligible for exercise on and following August 26, 2014.

The Company invests in a portfolio of 15 Canadian companies selected from the following 20 company universe which are among the highest Canadian dividend yielding stocks.

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 Manager'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 Manager 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 Manager 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.