CALGARY, Jan. 30, 2013 /CNW/ - Middlefield Group is
pleased to announce that MINT Income Fund ("MINT" or the
"Fund") has closed the offering of Rights to its Unitholders
raising gross proceeds of $33,971,931
(3,774,659 Units), being the maximum permitted under the
offering. Each Unitholder was given one Right for each Unit
held on January 2, 2013. Three
Rights entitled the holder to purchase one MINT Unit at a price of
$9.00 until 4:00 p.m. (Toronto time) on January 28, 2013. The Rights Offering was
significantly oversubscribed.
The net proceeds of the Rights Offering will be
invested by the Fund in accordance with its investment objectives
which include (i) monthly distributions (currently targeted to be
$0.06 per Unit per month, or
$0.72 per Unit per annum); (ii) a
cost-effective method of reducing the risk of investing in high
income securities; and (iii) the potential for capital appreciation
by investing in an actively managed, diversified portfolio
comprised primarily of high yielding equity securities.
MINT Income Fund trades on the Toronto
Stock Exchange under the symbol MID.UN.
Certain statements included herein constitute
forward-looking statements. Forward-looking statements include,
among other things, statements regarding the Fund, the proposed use
of net proceeds from the Rights Offering and investment
opportunities. Forward-looking statements are necessarily based
upon a number of estimates and assumptions. While such estimates
and assumptions are considered reasonable by the Fund, they are
inherently subject to significant business, economic and
competitive uncertainties and risks. Investors are cautioned not to
put undue reliance on forward-looking statements.
SOURCE MINT Income Fund