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TORONTO, Feb. 29, 2016 /CNW/ - Faircourt Asset Management Inc. (the "Manager"), the manager of Metals Plus Income Corp. (the "Company") (TSX: MPI), announced that it has caused the redemption and cancellation of all of the issued and outstanding class A shares of the Company (the "Shares").  The Company redeemed each Share for an amount in cash equal to the net asset value per Share.  Payment will be made to shareholders as soon as practicable.  Holders of Shares need not take any action to receive payment.

As previously announced on January 12, 2016 and February 10, 2016, the redemption and cancellation of the Shares is being made in conjunction with the delisting of the Shares from the Toronto Stock Exchange and the termination of the Company, all of which occurred as of the close of business on February 26, 2016. 

In conjunction with its termination, the Company is submitting applications to the relevant securities regulators to cease to be a reporting issuer and, in British Columbia, to voluntarily surrender its reporting issuer status.  It is expected that the Company will cease to be a reporting issuer in British Columbia on or about March 11, 2016 and that it will cease to be a reporting issuer in the other jurisdictions in which it is currently a reporting issuer in due course upon the issuance of decisions to that effect by the securities regulators of those jurisdictions.

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.