ENERGY TRUSTS / Enermark Income Fund - Notice of rights offering
EnerMark Income Fund - EIF.UN, TSE, ME
CALGARY, Jan. 26 /CNW/ - EnerMark Income Fund (the ''Fund'') announces
that it is issuing to holders of its trust units of record at the close of
business on February 4, 1999, Rights to subscribe for trust units. Each holder
of trust units is entitled to one (1) Right for each trust unit held on the
record date. Five (5) Rights will entitle the holder to purchase one (1) trust
unit of the Fund at a price of $2.45 per trust unit until 4:00 pm local time
at the place of exercise on February 26, 1999.
If all of the Rights are exercised, the Fund will issue 21,433,496 trust
units and receive net proceeds of approximately $50.5 million. The Rights
Offering Circular and Rights Certificates are expected to be mailed to the
Fund's unitholders on February 5, 1999.
CIBC Wood Gundy Securities Inc. will act as dealer manager to form a
facilitating dealer group to solicit subscriptions for the clients.
The Toronto Stock Exchange and the Montreal Exchange have conditionally
approved the listing of the Rights which are expected to commence trading on
February 2, 1999.
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