Noranda Income Fund
TSX : NIF.UN

Noranda Income Fund

December 12, 2011 15:14 ET

Noranda Income Fund Announces a Cash Distribution for the Month of December 2011 of $0.04167 per Priority Unit

SALABERRY-DE-VALLEYFIELD, QUÉBEC--(Marketwire - Dec. 12, 2011) - Noranda Income Fund (the "Fund") (TSX:NIF.UN) announced today that the Board of Trustees of Noranda Operating Trust has approved a distribution for the month of December 2011 of $0.04167 per priority unit payable on January 25, 2012 to Priority Unitholders of record as at the close of business on December 30, 2011.

As indicated in the November 11, 2011 press release, the Board of Trustees of Noranda Operating Trust advised that it has undertaken, through its Independent Committee, a review to determine the availability of funds for future distributions.

There is no assurance that monthly distributions will continue in the future, nor is there any assurance that, if they do continue, the level of such monthly distributions will not vary from the level of this December 2011 distribution.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking information and statements within the meaning of applicable securities laws, including statements on determination of further distributions and the end of the supply and processing agreement. Forward-looking information involves known and unknown risks, uncertainties and other factors, which may cause actual events, results or performance to be materially different from any future events, results or performance expressed or implied by the forward looking information, and as a result, the Fund cannot guarantee that any forward-looking statements or information will materialize. Such risks and uncertainties include, but are not limited to, the effect of general business and economic conditions and the conditions of financial and credit markets, the Fund's ability to operate at normal production levels, changes to the supply and demand for specific zinc metal products and other general risks and uncertainties set out in the Fund's continuous disclosure documents available on SEDAR at www.sedar.com.

Forward-looking information contained in this press release is based on, among other things, management's current estimates, expectations, assumptions, plans and intentions, which management believes are reasonable as of the current date, and which are subject to a number of risks and uncertainties. Except as required by law, the Fund does not undertake to update these forward-looking statements or information, whether written or oral, that may be made from time to time by the Fund or on the Fund's behalf.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". The Noranda Income Fund owns the CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Québec. The CEZinc processing facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various byproducts from zinc concentrates purchased from mining operations. The CEZ processing facility is operated and managed by Canadian Electrolytic Zinc Limited.

Further information about the Noranda Income Fund can be found at www.norandaincomefund.com.

Contact Information

  • Financial information: Michael Boone
    Vice President & Chief Financial Officer of
    Canadian Electrolytic Zinc Limited,
    Noranda Income Fund's Manager
    416-775-1561
    info@norandaincomefund.com