Harvest Canadian Income & Growth Fund completes C$36 million initial public offering

Date Closed: 7/20/2010

Value: C$36 million

Harvest Canadian Income & Growth Fund (the Fund) completed an initial public offering on June 29, 2010 of 2,916,667 Units at a price of $12.00 per Unit for aggregate gross proceeds of $35,000,004. The Agents (as defined herein) exercised their over-allotment option on July 20, 2010 to purchase an additional 111,655 Units.  The exercise of the over-allotment option brought the total gross proceeds of the public offering to $36,339,864.  Each Unit of the Fund consisted of one trust unit (Trust Unit) and one warrant (Warrant).

The offering was made through a syndicate of agents co-led by BMO Capital Markets, CIBC World Markets Inc. and RBC Capital Markets and included Scotia Capital Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Dundee Securities Corporation, Raymond James Ltd., Canaccord Genuity Corp., Macquarie Capital Markets (Canada) Ltd., Wellington West Capital Markets Inc., Desjardins Securities Inc. and Industrial Alliance Securities Inc. (collectively, the Agents). 

Harvest Portfolios Group Inc. and the Fund were represented by BLG with a team that included Michael Decosimo and Jiles Chamberlain (securities), Stephen Fyfe and Pierre Letourneau (tax) and Gus Karantzoulis (banking).