TORONTO, ONTARIO--(Marketwire - Feb. 11, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Brompton Advantaged VIP Income Fund (TSX:AV.UN) is pleased to announce that it has filed a final prospectus for an offering of warrants to unitholders of the Fund. Each unitholder of record on February 22, 2011 will receive one-third of a warrant for each unit held.
One warrant will entitle the holder to purchase a unit of the Fund at an exercise price of $10.57, (being the most recently calculated NAV per unit prior to the date of filing the preliminary prospectus plus the estimated per unit fees and expenses of the offering) on or before the expiry date of May 6, 2011. The Fund has applied to list the warrants on the TSX under the ticker symbol AV.WT. Warrants will be distributed to client accounts on a best-efforts basis after the February 22, 2011 record date. There is no additional subscription privilege under this offering. A holder of warrants may only subscribe for units by exercising their warrants by the expiry date.
Successful completion of the warrants offering will provide the Fund with additional capital that can be used for investment opportunities, and it is also expected to increase the trading liquidity of the units and reduce the ongoing management expense ratio of the Fund.
For further information, please contact your financial advisor, call Brompton's investor relations line at 416-642-9051 (toll-free at 1-866-642-6001), or visit our website at www.bromptonfunds.com.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
Contact Information: Brompton Funds Management Limited
Senior Vice President