TORONTO, ONTARIO--(Marketwired - April 29, 2015) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Healthcare Leaders Income Fund (TSX:HHL.UN) (the "Fund") is pleased to announce it has completed the overnight marketing of 2,360,000 Units. Total proceeds of the offering are expected to be $24,072,000. The Fund has granted the underwriters an option, exercisable at the offering price for a period of 30 days from the closing of the offering, to purchase up to an additional 354,000 Units to cover over-allotments, if any. The syndicate of underwriters for the offering is being co-led by BMO Capital Markets, CIBC and Scotiabank, and includes National Bank Financial Inc., Canaccord Genuity Corp., Global Securities Corporation, Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated. The sales period of the overnight offering has now ended. The closing of the offering is expected to be on or about May 14, 2015.
The Units will be offered at a price of $10.20 per Unit to yield 6.86% on the issue price. The last traded price through the facilities of the Toronto Stock Exchange of the Units on April 28, 2015 was $10.40.
The Fund's investment objectives are to provide Unitholders with (i) the opportunity for capital appreciation; (ii) monthly cash distributions; and (iii) lower overall volatility of Portfolio returns than would otherwise be experienced by owning Equity Securities of Healthcare Leaders directly.
The Fund invests in an equally-weighted Portfolio (at the end of each reconstitution and rebalancing) of Equity Securities of 20 Healthcare Issuers, which are issuers listed on a North American stock exchange that are included in the health care sector of the Global Industry Classification Standards and whose underlying business includes, but is not limited to, the provision of healthcare goods and services, including manufacturing and distributing healthcare products, equipment, supplies and technologies, producing and marketing of pharmaceuticals and biotechnology products, and/or engaging in research and development that (i) have a market capitalization of at least US$5 billion, and (ii) have options in respect of their Equity Securities listed on a recognized options exchange.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund, the Manager and/or the Investment Manager. The forward-looking statements are not historical facts but reflect the Fund's, the Manager's, and/or the Investment Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, the Manager, and/or the Investment Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, the Manager and/or the Investment Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
A preliminary short form prospectus containing important information relating to the Units has been filed with securities commissions or similar authorities in all provinces and territories of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above. There will not be any sale or acceptance of an offer to buy the Units until a receipt for the final short form prospectus has been issued.
All capitalized terms noted herein but not defined are as defined in the Prospectus.
For further information: please contact Paul MacDonald at Harvest Portfolios Group Inc. at pmacdonald@harvestportfolios.com or at 1-866-998-8298; or visit Harvest Portfolios Group Inc. online at www.harvestportfolios.com; for additional information or a copy of the Prospectus, please contact your registered financial advisor.