Acuity Multi-Cap Total Return Trust completes $115 million initial public offering

Date Closed: 10/19/2005

Value: $115 million

On October 19, 2005, Acuity Multi-Cap Total Return Trust (the Trust), an investment trust, completed its initial public offering of 11,500,000 Trust units at $10 per Trust unit for gross proceeds of $115 million. On November 8, 2005, the agents for the offering exercised the over-allotment option in respect of 470,000 Trust units for additional gross proceeds to the Trust of $4,700,000. The offering was made through a syndicate of agents, led by CIBC World Markets Inc. and included BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Blackmont Capital Inc., Canaccord Capital Corp., Desjardins Securities Inc., Dundee Securities Corp., Raymond James Ltd., Wellington West Capital Inc., Berkshire Securities Inc. and IPC Securities Corp.

The Trust and Acuity Funds Ltd., the manager of the Trust, were represented by BLG with a team that included Lynn McGrade, Michael DeCosimo and Sarah Gardiner (securities/corporate) and Stephen Fyfe (tax).