MM Asset Management Inc.

June 07, 2007 08:53 ET

MM Asset Management Inc. Acquired Control Over Units of Liquor Barn Income Fund

TORONTO, ONTARIO--(Marketwire - June 7, 2007) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP") has acquired an aggregate of 726,700 Trust Units (the "Units") of Liquor Barn Income Fund ("Liquor Barn") since a take-over bid for all of the Units outstanding of Liquor Barn was filed by Liquor Stores Income Fund with the securities regulatory authorities on April 10, 2007. The Units were acquired in a series of transactions conducted through the facilities of the Toronto Stock Exchange. MMCAP now beneficially owns and MMAM exercises control and direction over 726,700 Units of Liquor Barn, representing approximately 5.1988% of the outstanding Units of Liquor Barn based on 13,978,145 outstanding Units as reported by Liquor Barn.

MMCAP has acquired the Liquor Barn units for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of Liquor Barn or dispose of such securities in the open market, by private agreement or otherwise.

Contact Information

  • MM Asset Management Inc.
    Hillel Meltz
    President
    (416) 408-0996