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TORONTO, Jan. 12, 2016 /CNW/ - Faircourt Asset Management Inc. (the "Manager"), the manager of Metals Plus Income Corp. (the "Company") (TSX: MPI), announced today its intention to terminate the Company.  The Manager made the decision to terminate the Company following an analysis of the Company's net asset base and current market conditions. With redemptions over the years and the continued weak commodities market, the Company has become too small to be economic. The Manager has therefore determined that it would be in the best interest of shareholders to terminate the Company. The Manager anticipates that the Company's termination will occur on or about February 26, 2016 (the "Termination Date").

Class A shares (the "Shares") of the Company outstanding on the Termination Date will be automatically redeemed on the Termination Date.  Holders of record of Shares on the Termination Date will receive their pro rata portion of the remaining assets of the Company after all liabilities of the Company have been satisfied or appropriately provided for, subject to compliance with any securities or other laws applicable to such distributions.  We expect that such holders of Shares will receive for each Share an amount in cash equal to the net asset value per Share.

Payment is expected to be made as soon as practicable following the Termination Date.  Holders of Shares need not take any action to receive payment.    

The Manager expects that remaining monthly distributions to holders of Shares will not be affected by the termination.

This press release constitutes notice to holders of the Shares of the termination of the Company.

Certain statements contained in this news release constitute forward-looking information. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Company, to the future outlook of the Company and anticipated events or results and may include statements regarding the future financial performance of the Company. 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. These forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements that are contained in this press release, except in accordance with applicable securities laws.

SOURCE Faircourt Asset Management Inc.