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GENIVAR Income Fund closes $50 million equity financing

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Confidential Client

On October 2, 2008, GENIVAR Income Fund announced the closing of its previously announced public offering of 1,391,650 units of the Fund for gross proceeds of approximately $35 million and the private placement of 596,421 exchangeable LP units of GENIVAR Limited Partnership for gross proceeds of approximately $15 million. The net proceeds of the public offering and the private placement were used to repay a portion of the bank advances under GENIVAR's credit facilities. The units issued pursuant to the public offering were offered through an underwriting syndicate led by TD Securities Inc., National Bank Financial Inc. and Raymond James Ltd. and also including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Blackmont Capital Inc. and Cormark Securities Inc. The underwriting syndicate was advised by a team from Fasken Martineau that included Gilles Leclerc, Gabriel Castiglio, Jean Michel Lapierre and Judy Kremer (securities), and Gilles Carli and Thomas Copeland (tax).


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