Copernican Capital Corp.
TSX : ADC
TSX : ASC
TSX : FIT.UN
TSX : GBP.UN
TSX : CBK.UN
TSX : CIW.UN
TSX : CBW
TSX : CBW.PR.A
TSX : ASC.PR.A
TSX : CIR
TSX : CIR.PR.A
TSX : CPM.UN
TSX : CBB.UN
TSX : CBB.WT
TSX : EPD.UN
TSX : EPD.WT

Copernican Capital Corp.

December 13, 2007 13:05 ET

European Premium Dividend Fund Raises Total Gross Proceeds of $29.85 Million After Over-Allotment Option of $2.85 Million

BURLINGTON, ONTARIO--(Marketwire - Dec. 13, 2007) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES.

Copernican Capital Corp. (TSX:ADC)(TSX:ASC)(TSX:ASC.PR.A)(TSX:GBP.UN)(TSX:FIT.UN)(TSX:CBK.UN)(TSX:CIW.UN)
(TSX:CBW.PR.A)(TSX:CBW)(TSX:CIR)(TSX:CIR.PR.A)(TSX:CPM.UN)(TSX:CBB.UN)(TSX:CBB.WT)(TSX:EPD.UN)(TSX:EPD.WT), the Manager of European Premium Dividend Fund (the "Fund") is pleased to announce that the Fund has issued an additional 285,100 trust units ("Trust Units") of the Fund at a price of $9.80 per Trust Unit and an additional 151,950 warrants ("Warrants") of the Fund at a price of $0.40 per Warrant for gross proceeds of $2,854,760 pursuant to the exercise by the agents of their over-allotment option. Each whole Warrant entitles the holder to purchase one Trust Unit at a subscription price of $10.00 on or before 5:00 p.m. (Toronto time) on November 12, 2010, as described in the final prospectus of the Fund dated October 30, 2007. Including the over-allotment option, total gross proceeds of the Fund's initial public offering were $29,850,000.

The Trust Units and Warrants trade on the Toronto Stock Exchange under the symbols EPD.UN and EPD.WT, respectively.

The Fund is a closed-end investment trust whose investment objectives are:

(i) to provide holders of Trust Units with monthly cash distributions (which initially is expected to be $0.80 per Trust Unit per annum, representing a yield of 8% per annum based on the original issue price of $10.00 per Unit (comprised of one Trust Unit and one-half Warrant), and commencing in 2009 will be determined and announced by the Fund on an annual basis); and

(ii) to preserve and enhance the net asset value of the Fund.

AIC Investment Services Inc. (the "Investment Manager") will be responsible for the Fund's overall investment strategy. The Fund has been created to provide investors an opportunity to diversify away from North America via exposure to European dividend-paying issuers with strong credit ratings.

The Investment Manager will invest in issuers that it believes have attractive dividend yields, strong earnings growth momentum and are in industries with high barriers to entry, supported by Europe's strengthening economic environment.

As at September 17, 2007, the Investment Manager's assets under management totalled approximately $8.0 billion of which approximately $4.3 billion was invested in the global financial services industry.

The offering was made through a syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets that included Scotia Capital Inc., TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Berkshire Securities Inc., Canaccord Adams, Desjardins Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Bieber Securities Inc., Blackmont Capital Inc., Burgeonvest Securities Limited, Laurentian Bank Securities Inc., Richardson Partners Financial Ltd. and Wellington West Capital Inc.

Contact Information

  • Media Contacts:
    Copernican Capital Corp., Burlington ON
    Chris Lowe, Chief Executive Officer
    (905) 319-4922
    Email: clowe@copernican.com
    Website: www.copernicancapital.com
    or
    AIC Investment Services, Burlington ON
    Chris Lowe
    Senior Vice President and Portfolio Manager
    (905) 331-4242, ext. 4232 or 1-888-710-4242, ext. 4232
    Email: clowe@aic.com
    or
    AIC Limited, Burlington ON
    Terri Oswald
    Director, Media Relations
    (905) 331-4242, ext. 4345 or 1-888-710-4242, ext. 4345
    Email: toswald@aic.com