Sentry Select Capital Inc.

Sentry Select Capital Inc.

April 14, 2009 13:53 ET

Sentry Select Capital Inc. Files Preliminary Prospectus for Sentry Select Canadian Income Exchange Fund

TORONTO, ONTARIO--(Marketwire - April 14, 2009) - Sentry Select Capital Inc. ("Sentry Select" or the "Manager") is pleased to announce that a preliminary prospectus for Sentry Select Canadian Income Exchange Fund (the "Fund") has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. The Fund is an investment fund established under the laws of the Province of Ontario and is qualified to issue an unlimited number of Class A and Class F units at a price of $10.00 per unit.

Exchange Option

A prospective purchaser of Units is required to deposit its Eligible Securities with the Exchange Agent through CDS prior to 5:00 p.m. (Toronto time) on May 14, 2009. Such book-entry deposits must be made by a CDS Participant.

Investment Objectives

The Fund's investment objectives are:

(i) to provide Unitholders with distributions equal to 8.5% per annum (approximately $0.071 per unit per month) based on the initial price of units; and

(ii) to provide Unitholders with the opportunity for capital appreciation.

The Manager will seek to achieve its investment objectives by liquidating the Eligible Securities quickly and efficiently, which may include crossing some securities into the Sentry Select Canadian Income Fund or another mutual fund managed by Sentry Select, and using the proceeds from such dispositions to acquire units of Sentry Select Candian Income Fund.

Exchange Ratio

The Exchange Ratios will be determined: (i) in respect of Eligible Securities other than convertible debentures, by dividing the volume weighted average trading price of such securities on the Toronto Stock Exchange ("TSX") during the period of four consecutive trading days ending on May 14, 2009, by $10.00 (being the original issue price per Unit) as adjusted to reflect distributions declared by an Exchange Issuer that will be payable to the securityholder and therefore will not be received by the Fund; and (ii) in respect of Eligible Securities that are convertible debentures, for each $1,000 principal amount of convertible debentures, by dividing the volume weighted average trading price for such principal amount of convertible debentures on the TSX during the Pricing Period, plus accrued interest as calculated in accordance with market practice, to, but not including, the Closing Date, by $10.00. The Exchange Ratios will be rounded down to four decimal places. Fractional Units will not be issued by the Fund.

The Fund will issue a press release prior to the close of business on May 15, 2009 announcing the name of the Exchange Issuer, the weighted average trading price of the Eligible Securities during the Pricing Period and the Exchange Ratios for the Eligible Securities of each Exchange Issuer.

Exchange Ratio



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Issuers - Acadian Timber Income Fund ADN.UN
Royalty and ------------------------------------------------------------
Income Trusts Ag Growth Income Fund AFN.UN
and REITS ------------------------------------------------------------
AltaGas Income Trust ALA.UN
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Allied Properties Real Estate Investment Trust AP.UN
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Altus Group Income Fund AIF.UN
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ARC Energy Trust AET.UN
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Armtec Infrastructure Income Fund ARF.UN
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Atlantic Power Corporation ATP.UN
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A&W Revenue Royalties Income Fund AW.UN
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Baytex Energy Trust BTE.UN
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Badger Income Fund BAD.UN
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Bell Aliant Regional Communications Income Fund BA.UN
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Bird Construction Income Fund BDT.UN
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Big Rock Brewery Income Trust BR.UN
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Black Diamond Income Fund BDI.UN
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Boardwalk Real Estate Investment Trust BEI.UN
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Bonavista Energy Trust BNP.UN
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Boston Pizza Royalties Income Fund BPF.UN
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Boyd Group Income Fund BYD.UN
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Boralex Power Income Fund BPT.UN
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Canadian Helicopters Income Fund CHL.UN
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Canexus Income Fund CUS.UN
------------------------------------------------------------
Canfor Pulp Income Fund CFX.UN
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CanWel Building Materials Income Fund CWX.UN
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Cargojet Income Fund CJT.UN
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Cathedral Energy Services Income Trust CET.UN
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Canadian Oil Sands Trust COS.UN
------------------------------------------------------------
Calloway Real Estate Investment Trust CWT.UN
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Canadian Real Estate Investment Trust REF.UN
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Chemtrade Logistics Income Fund CHE.UN
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Cineplex Galaxy Income Fund CGX.UN
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Coast Wholesale Appliances Income Fund CWA.UN
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CML Healthcare Income Fund CLC.UN
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Contrans Income Fund CSS.UN
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Crescent Point Energy Trust CPG.UN
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Cominar Real Estate Investment Trust CUF.UN
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Crombie Real Estate Investment Trust CRR.UN
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Davis + Henderson Income Fund DHF.UN
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Daylight Resources Trust DAY.UN
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DirectCash Income Fund DCI.UN
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Dundee Real Estate Investment Trust D.UN
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Drive Products Income Fund DPI.UN
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Enbridge Income Fund ENF.UN
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Energy Savings Income Fund . SIF.UN
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Enerplus Resources Fund ERF.UN
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EPCOR Power L.P. EP.UN
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Exchange Industrial Income Fund EIF.UN
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Extendicare Real Estate Investment Trust EXE.UN
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First National Financial Income Fund FN.UN
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Fort Chicago Energy Partners L.P. FCE.UN
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Futuremed Healthcare Income Fund FMD.UN
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Freehold Royalty Trust FRU.UN
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Gaz Metro Limited Partnership GZM.UN
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GENIVAR Income Fund GNV.UN
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General Donlee Income Fund GDI.UN
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Great Lakes Hydro Income Fund GLH.UN
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GMP Capital Trust GMP.UN
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Hardwoods Distribution Income Fund HWD.UN
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Home Equity Income Trust HEQ.UN
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H&R Real Estate Investment Trust HR.UN
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IBI Income Fund IBG.UN
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InnVest Real Estate Investment Trust INN.UN
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Innergex Power Income Fund IEF.UN
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Inter Pipeline Fund IPL.UN
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Jazz Air Income Fund JAZ.UN
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The Keg Royalties Income Fund KEG.UN
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Keyera Facilities Income Fund KEY.UN
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Labrador Iron Ore Royalty Income Fund LIF.UN
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Liquor Stores Income Fund LIQ.UN
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Livingston International Income Fund LIV.UN
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Macquarie Power & Infrastructure Income Fund MPT.UN
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Medical Facilities Corporation DR.UN
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Morguard Real Estate Investment Trust MRT.UN
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Morneau Sobeco Income Fund MSI.UN
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Mullen Group Income Fund MTL.UN
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NAL Oil & Gas Trust NAE.UN
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New Flyer Industries Inc NFI.UN
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Noranda Income Fund NIF.UN
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Northern Property Real Estate Investment Trust NPR.UN
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North West Company Fund NWF.UN
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Northland Power Income Fund NPI.UN
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Paramount Energy Trust PMT.UN
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Pembina Pipeline Income Fund PIF.UN
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Pengrowth Energy Trust PGF.UN
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Penn West Energy Trust PWT.UN
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Peyto Energy Trust PEY.UN
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Phoenix Technology Income Fund PHX.UN
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Precision Drilling Trust PD.UN
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Premium Brands Income Fund PBI.UN
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Priszm Income Fund QSR.UN
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Primaris Retail Real Estate Investment Trust PMZ.UN
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Prime Restaurants Royalty Income Fund EAT.UN
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Provident Energy Trust PVE.UN
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PRT Forest Regeneration Income Fund PRT.UN
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Resolve Business Outsourcing Income Fund RBO.UN
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Richards Packaging Income Fund RPI.UN
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RioCan Real Estate Investment Trust REI.UN
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Rogers Sugar Income Fund RSI.UN
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Royal Host Real Estate Investment Trust RYL.UN
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Second Cup Royalty Income Fund SCU.UN
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SIR Royalty Income Fund SRV.UN
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Strongco Income Fund SQP.UN
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Supremex Income Fund SXP.UN
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Swiss Water Decaffeinated Coffee Income Fund SWS.UN
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TerraVest Income Fund TI.UN
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TimberWest Forest Corp TWF.UN
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Total Energy Services Trust TOT.UN
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Trilogy Energy Trust TET.UN
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Vermilion Energy Trust VET.UN
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Vicwest Income Fund VIC.UN
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Wajax Income Fund WJX.UN
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Westshore Terminals Income Fund WTE.UN
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Yellow Pages Income Fund YLO.UN
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Issuers - AGF Management Limited AGF.B
Equities ------------------------------------------------------------
Algoma Central Corporation ALC
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Amica Mature Lifestyles Inc ACC
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Andrew Peller Limited ADW.A
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BFI Canada Ltd BFC
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Canadian Utilities Limited CU
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Cascades Inc CAS
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Catalyst Paper Corporation CTL
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The Churchill Corporation CUQ
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CI Financial Corp CIX
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Clarke Inc CKI
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Emera Incorporated EMA
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Eveready Inc EIS
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Fortis Inc FTS
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Gerdau AmeriSteel Corporation GNA
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Great Canadian Gaming Corporation GC
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Hammond Power Solutions Inc HPS.A
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International Forest Products Ltd IFP.A
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Keystone North America Inc KNA
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Lassonde Industries Inc LAS.A
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Le Chateau Inc CTU.A
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Linamar Corporation LNR
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Logistec Corporation LGT.A
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lululemon athletica inc LLL
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Mainstreet Equity Corp MEQ
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Marsulex Inc MLX
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Maple Leaf Foods Inc MFI
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McGraw-Hill Ryerson Ltd MHR
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Melcor Developments Ltd MRD
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Newalta Inc NAL
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Newfoundland Capital Corp Ltd NCC.A
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Norbord, Inc NBD
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Onex Corporation OCX
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Pulse Data Inc PSD
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Realex Properties Corp RLX
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Reitmans (Canada) Limited RET.A
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Rocky Mountain Dealerships Inc RME
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Seacliff Construction Corp SDC
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Superior Plus Corp SPB
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Teck Cominco Limited TCK.B
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TransForce Inc TFI
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Trinidad Drilling Ltd TDG
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TVA Group Inc TVA.B
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Vitran Corporation Inc VTN
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West Fraser Timber Co Ltd WFT
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Issuers - Advantage Energy Income Fund AVN.DB.C
Convertible ------------------------------------------------------------
Debentures Advantage Energy Income Fund AVN.DB.E
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Advantage Energy Income Fund AVN.DB.F
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Advantage Energy Income Fund AVN.DB.G
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Artis Real Estate Investment Trust AX.DB.C
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Barrick Energy Inc CDS.DB
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Baytex Energy Trust BTE.DB
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Bonavista Energy Trust BNP.DB
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Bonavista Energy Trust BNP.DB.A
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Calloway Real Estate Investment Trust CWT.DB
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Calloway Real Estate Investment Trust CWT.DB.A
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Cineplex Galaxy Income Fund CGX.DB
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Cominar Real Estate Investment Trust CUF.DB
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Cominar Real Estate Investment Trust CUF.DB.B
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Cominar Real Estate Investment Trust CUF.DB.C
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Crombie Real Estate Investment Trust CRR.DB
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Daylight Resources Trust DAY.DB
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Daylight Resources Trust DAY DB.B
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Daylight Resources Trust DAY DB.C
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Dundee Corporation DC.DB
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Dundee Real Estate Investment Trust D.DB
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Dundee Real Estate Investment Trust D.DB.A
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First Capital Realty Inc FCR.DB.A
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Fort Chicago Energy Partners L.P. FCE.DB.B
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H&R Real Estate Investment Trust HR.DB
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Keyera Facilities Income Fund KEY.DB
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Keyera Facilities Income Fund KEY.DB.A
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Killam Properties Inc KMP.DB
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Liquor Stores Income Fund LIQ.DB
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Magna International Inc MG.DB
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Medical Facilities Corporation DR.DB
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NAL Oil & Gas Trust NAE.DB
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Northland Power Income Fund NPI.DB
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Pembina Pipeline Income Fund PIF.DB.B
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Primaris Retail Real Estate Investment Trust PMZ.DB
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Primaris Retail Real Estate Investment Trust PMZ.DB.A
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Progress Energy Resources Corp PRQ.DB
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Progress Energy Resources Corp PRQ.DB.A
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Rogers Sugar Income Fund RSI.DB.A
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Rogers Sugar Income Fund RSI.DB.B
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Superior Plus Corp SPB.DB.B
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Superior Plus Corp SPB.DB.C
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Universal Energy Group Ltd UEG.DB
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YPG Holdings Inc YPG.DB
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Issuers - Bank of Montreal Series 14 BMO.PR.K
Preferred ------------------------------------------------------------
Shares Bank of Nova Scotia Series 14 BNS.PR.L
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Bank of Nova Scotia Series 15 BNS.PR.M
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Bank of Nova Scotia Series 20 BNS.PR.Q
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Bank of Nova Scotia Series 26 BNS.PR.T
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Bank of Nova Scotia Series 28 BNS.PR.X
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Brookfield Asset Management Inc Series 13 BAM.PR.K
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Brookfield Properties Corporation Series H BPO.PR.H
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Brookfield Properties Corporation Series I BPO.PR.I
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Canadian Imperial Bank of Commerce Series 30 CM.PR.H
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Canadian Imperial Bank of Commerce Series 31 CM.PR.I
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Canadian Imperial Bank of Commerce Series 35 CM.PR.L
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Great-West Lifeco Inc Series G GWO.PR.G
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Great-West Lifeco Inc Series H GWO.PR.H
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Power Financial Corporation Series K PWF.PR.K
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Royal Bank of Canada Series AA RY.PR.A
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Royal Bank of Canada Series AB RY.PR.B
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Royal Bank of Canada Series AD RY.PR.D
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Royal Bank of Canada Series AE RY.PR.E
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Royal Bank of Canada Series AJ RY.PR.I
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Royal Bank of Canada Series AL RY.PR.L
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Royal Bank of Canada Series AN RY.PR.N
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Royal Bank of Canada Series AP RY.PR.P
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Royal Bank of Canada Series AR RY.PR.R
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Royal Bank of Canada Series W RY.PR.W
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Sun Life Financial Inc Series 1 SLF.PR.A
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Sun Life Financial Inc Series 2 SLF.PR.B
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The Toronto-Dominion Bank Series AE TD.PR.E
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The Toronto-Dominion Bank Series AG TD.PR.G
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The Toronto-Dominion Bank Series M TD.PR.M
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The Toronto-Dominion Bank Series O TD.PR.O
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The Toronto-Dominion Bank Series P TD.PR.P
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YPG Holdings Inc Series 2 YPG.PR.B
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Sentry Select Capital Inc.

Sentry Select Capital Inc. is a Canadian wealth management company that offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

Agent

CIBC World Markets Inc. has been engaged as the Agent for the offering.

Capitalized terms used herein but not defined have the meaning ascribed to them in the Fund's prospectus.

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 Sentry Select. The forward-looking statements are not historical facts but reflect Sentry Select'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 including, but not limited to, the timing of liquidating the Eligible Securities. Although Sentry Select 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. Sentry Select 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.



Sentry Select Capital Inc.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615

Contact Information