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Client Work

MINT Income Fund raises US$45 million in rights offering

Fasken
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MINT Income Fund

On January 15, 2008, MINT Income ("MINT") Fund closed a fully-subscribed offering of Rights to its unitholders raising gross proceeds of $44,737,670 (4,588,479 Units). Unitholders of record on December 12, 2007 received one Right for each unit of MINT held. Three Rights entitled the holder to purchase one MINT unit at a price of $9.75 until January 10, 2008. The net proceeds of the Rights Offering will be invested by the MINT in accordance with its investment objectives which are to provide holders of its units with (i) a high level of sustainable income distributed monthly, and (ii) a cost-effective method of reducing the risk of investing in high income securities. The Fund was advised in this transaction by a team from Fasken Martineau comprised of Stephen Erlichman, John Sabetti and Scott Mitchell (securities), and Mitchell Thaw (tax).

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