Sentry Select Capital Corp.

Sentry Select Capital Corp.
Sentry Select Diversified Income Trust

September 19, 2007 13:20 ET

Sentry Select Diversified Income Trust (TSX:SDT.UN) Announces Exchange Offer

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2007) - Sentry Select Capital Corp. ("Sentry Select" or "Manager") is pleased to announce that Sentry Select Diversified Income Trust (the "Trust") (TSX:SDT.UN) has filed, and received a receipt for, a preliminary short-form prospectus across Canada, qualifying units of the Trust (the "Trust Units") to be issued in connection with its exchange offer (the "Exchange Offer") for securities of issuers (the "Issuers") listed below.

Deposit date and closing

Acceptances of the Exchange Offer must be deposited with Computershare Investor Services Inc. through CDS Clearing and Depository Services Inc. ("CDS") until 4:00 pm (Toronto time) on October 15, 2007 (the "Deposit Date"). Subject to the satisfaction of the conditions of the Exchange Offer, the closing is expected to occur on or about October 26, 2007.

Exchange ratio

Trust Units may be purchased by the exchange of eligible securities of any Issuer named below. The number of Trust Units issuable for the securities of each Issuer (the "Exchange Ratio") will be determined by dividing the volume weighted average trading price of such securities on the Toronto Stock Exchange ("TSX") during the period of three consecutive trading days ending on the Deposit Date (the "Pricing Period") by the volume weighted average trading price of the Trust Units on the TSX during the Pricing Period.


The Exchange Offer will remain open for acceptance until 4:00 p.m. (Toronto time) on October 15, 2007. The Exchange Offer may be accepted only by means of a book-entry deposit through CDS. Holders of securities of an Issuer who wish to accept the Exchange Offer must request their investment adviser, investment dealer, bank, trust company or other nominee to effect the transaction for them and should do so not later than October 12, 2007 to ensure that their securities are included in the deposit to be made through CDS on October 15, 2007. Some nominees may require an earlier deadline for receiving instructions concerning a deposit.

Reimbursement of expenses

The Manager has agreed to reimburse the Trust for the expenses of the Exchange Offer, including the solicitation and agency fees, incurred by the Trust in 28 equal quarterly instalments (due January 1, April 1, July 1 and October 1), together with interest, beginning on January 1, 2009. This obligation will be evidenced by a promissory note to be issued at the closing of the Exchange Offer, which will bear interest from the date of issue at the prime rate of interest posted from time to time by the Trust's bank.


A&W Revenue Royalties Income Fund
Acadian Timber Income Fund
Advantage Energy Income Fund
Aeroplan Income Fund
Ag Growth Income Fund
AGF Management Ltd.
Agrium Inc.
Agtech Income Fund
Algonquin Power Income Fund
Allied Properties Real Estate Investment Trust
AltaGas Income Trust
Altus Group Income Fund
ARC Energy Trust
Arctic Glacier Income Fund
Armtec Infrastructure Income Fund
Artis Real Estate Investment Trust
Atlantic Power Corporation
ATS Andlauer Income Fund
AutoCanada Income Trust
Avenir Diversified Income Trust
Badger Income Fund
Bank of Montreal
Bank of Nova Scotia
Baytex Energy Trust
BCE Inc.
Bell Aliant Regional Communications Income Fund
BFI Canada Income Fund
Big Rock Brewery Income Trust
Bird Construction Income Fund
Boardwalk Real Estate Investment Trust
Bonavista Energy Trust
Bonterra Energy Income Trust
Boralex Power Income Fund
Boston Pizza Royalties Income Fund
Brookfield Asset Management
Brookfield Properties Corp.
Builders Energy Services Trust
CAE Inc.
Calloway Real Estate Investment Trust
Canadian Apartment Properties Real Estate Investment Trust
Canadian Helicopters Income Fund
Canadian Imperial Bank of Commerce
Canadian National Railway Company
Canadian Natural Resources Ltd.
Canadian Oil Sands Trust
Canadian Pacific Railway Ltd.
Canadian Real Estate Investment Trust
Canadian Utilities Ltd.
Canadian Western Bank
Canetic Resource Trust
Canexus Income Fund
Canfor Pulp Income Fund
CanWel Building Materials Income Fund
Cargojet Income Fund
Cathedral Energy Services Income Trust
Chartwell Seniors Housing Real Estate Investment Trust
Chemtrade Logistics Income Fund
Chesswood Income Fund
CI Financial Income Fund
Cineplex Galaxy Income Fund
Cinram International Income Fund
CML HealthCare Income Fund
Coast Wholesale Appliances Income Fund
Colabor Income Fund
Cominar Real Estate Investment Trust
Connors Bros. Income Fund
Contrans Income Fund
Crescent Point Energy Trust
Creststreet Power & Income Fund
Crombie Real Estate Investment Trust
Davis + Henderson Income Fund
Daylight Resources Trust
DirectCash Income Fund
Drive Products Income Fund
Dundee Real Estate Investment Trust
Emera Inc.
Enbridge Inc.
Enbridge Income Fund
EnCana Corp.
Energy Savings Income Fund
Enerplus Resources Fund
EPCOR Power L.P.
Eveready Income Fund
Extendicare Real Estate Investment Trust
Fairborne Energy Trust
Finning International Inc.
Firm Capital Mortgage Investment Trust
First Capital Realty Inc.
First National Financial Income Fund
Focus Energy Trust
Fording Canadian Coal Trust
Foremost Income Fund
Fort Chicago Energy L.P.
Fortis Inc.
FP Newspapers Income Fund
Freehold Royalty Trust
Futuremed Healthcare Income Fund
Gamehost Income Fund
GAZ Metro Limited Partnership
General Donlee Income Fund
GENIVAR Income Fund
Gluskin Sheff + Associates Inc.
GMP Capital Trust
Golf Town Income Fund
Great Lakes Hydro Income Fund
Great-West Lifeco Inc.
H&R Real Estate Investment Trust
Harvest Energy Trust
Home Equity Income Trust
Huntingdon Real Estate Investment Trust
IAT Air Cargo Facilities Income Fund
IBI Income Fund
IGM Financial Inc.
Imperial Oil Ltd.
Industrial Alliance Insurance and Financial Services Inc.
ING Canada Inc.
Inmet Mining Corp.
Innergex Power Income Fund
InnVest Real Estate Investment Trust
Inter Pipeline Fund
InterRent Real Estate Investment Trust
Jazz Air Income Fund
K-Bro Linen Income Fund
Keyera Facilities Income Fund
Keystone North America Inc.
Labrador Iron Ore Royalty Income Fund
Lanesborough Real Estate Investment Trust
Liquor Stores Income Fund
Livingston International Income Fund
Macquarie Power & Infrastructure Income Fund
Manitoba Telecom Services Inc.
Manulife Financial Corp.
Medical Facilities Corporation
Medisys Health Group Income Fund
Morguard Real Estate Investment Trust
Morneau Sobeco Income Fund
Mullen Group Income Fund
NAL Oil and Gas Trust
National Bank of Canada
New Flyer Industries Inc.
Newalta Income Fund
Newport Partners Income Fund
Noranda Income Fund
Norbord Inc.
North West Company Fund
Northern Property Real Estate Investment Trust
Northland Power Income Fund
Oceanex Income Fund
OFI Income Fund
Onex Corp.
Paramount Energy Trust
Park Lawn Income Trust
Parkland Income Fund
PDM Royalties Income Fund
Peak Energy Services Trust
Pembina Pipeline Income Fund
Pengrowth Energy Trust
Penn West Energy Trust
Peyto Energy Trust
Phoenix Technology Income Fund
Pizza Pizza Royalty Income Fund
Pollard Banknote Income Fund
Power Corporation of Canada
Power Financial Corp.
Precision Drilling Trust
Premium Brands Income Fund
Primaris Retail Real Estate Investment Trust
Primary Energy Recycling Corporation
Prime Restaurants Royalty Income Fund
Prime West Energy Trust
Priszm Income Fund
Progress Energy Trust
Provident Energy Trust
PRT Forest Regeneration Income Fund
Public Storage Canadian Properties
Resolve Business Outsourcing Income Fund
Retrocom Mid-Market Real Estate Investment Trust
Richards Packaging Income Fund
RioCan Real Estate Investment Trust
Rogers Communications Inc.
Rogers Sugar Income Fund
Royal Bank of Canada
Royal Host Real Estate Investment Trust
Royal LePage Franchise Services Fund
Royal Utilities Income Fund
Scotts Real Estate Investment Trust
Second Cup Royalty Income Fund
SFK Pulp Fund
Sherritt International Corp.
Shoppers Drug Mart Corp.
Sleep Country Canada Income Fund
SNC-Lavalin Group Inc.
Spectra Energy Income Fund
Sterling Shoes Income Fund
Stoneham Drilling Trust
Strongco Income Fund
Student Transportation of America Ltd.
Sun Gro Horticulture Income Fund
Sun Life Financial Inc.
Superior Plus Income Fund
Supremex Income Fund
Swiss Water Decaffeinated Coffee Income Fund
Talisman Energy Inc.
Taylor NGL L. P.
Teck Cominco Ltd.
Telus Corp.
Teranet Income Fund
The Brick Group Income Fund
The Consumers' Waterheater Income Fund
The DATA Group Income Fund
The Keg Royalties Income Fund
Tim Hortons Inc.
TimberWest Forest Corp.
Toronto-Dominion Bank
Total Energy Services Trust
TransAlta Corp.
TransAlta Power L.P.
TransCanada Corp.
TransForce Income Fund
Tree Island Wire Income Fund
Trilogy Energy Trust
Trimac Income Fund
Trinidad Energy Services Income Trust
TSX Group Inc.
Vault Energy Trust
Vermilion Energy Trust
Vicwest Income Fund
Village Farms Income Fund
Wajax Income Fund
Wellco Energy Services Trust
West Fraser Timber Co. Ltd.
Westshore Terminal Income Fund
Yellow Pages Income Fund
Zargon Energy Trust

Dealer manager

National Bank Financial has been engaged as the dealer manager for the Exchange Offer.

Sentry Select Diversified Income Trust

Sentry Select Diversified Income Trust is a closed-end investment trust that aims to maximize distributions to unitholders by investing primarily in high income securities issued by a broad range of royalty and income trusts, real estate investment trusts, and limited partnerships and, to a lesser extent, fixed-income securities and high-yielding common stocks.

Sentry Select Capital Corp.

Sentry Select is a Canadian wealth management company that manages over $8 billion in gross assets as of July 31, 2007. The company 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. With 29 reporting issuers, Sentry Select is the leading manager and/or advisor to entities listed on the TSX. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.


The Exchange Offer is not a take-over bid for any of the Issuers and is not, and under no circumstances is to be construed as, an offering of any Trust Units for sale in the U.S. or to any resident thereof.

A preliminary prospectus dated September 18, 2007 relating to these securities has been filed with the securities regulatory authority in each of the provinces and territories of Canada, but has not yet become final for the purpose of the sale of securities to the public. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt of the final prospectus is obtained from such securities regulatory authorities. Important information concerning this offering is contained in the prospectus. Obtain a copy from your financial advisor and read the prospectus before investing.

The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4

Contact Information

  • Sentry Select Capital Corp.
    Investor Services
    (broker/investor inquiries)
    (416) 364-1197 (FAX)
    Sentry Select Capital Corp.
    Kinga Lam
    (media inquiries)
    (416) 364-1197 (FAX)