TORONTO, ONTARIO--(Marketwired - Jun 27, 2013) - Canadian REIT Income Fund (TSX:RIU.UN) (the "Fund") announces that a special meeting of the Unitholders of the Fund will be held on July 23, 2013. If required, an adjourned meeting will be held on August 2, 2013.
At the meeting, Unitholders will be asked to consider and approve the merger of the Fund into First Asset REIT Income Fund, an open-end mutual fund. Both funds are managed by First Asset Investment Management Inc. (the "Manager"). The merger is being proposed as an alternative to the automatic conversion of the Fund into an open-end mutual fund. The Fund and First Asset REIT Income Fund have substantially similar investment objectives and strategies, and the merger of the two funds (if approved) will form a larger, open-end mutual fund, that will result in enhanced liquidity, economies of scale and cost synergies for unitholders of both funds.
If the proposed merger is approved, the Manager expects that it will be implemented on or about October 1, 2013. On that date, the unitholders of the Fund will receive, on a tax-deferred basis, Class A units (Initial Sales Charge) of First Asset REIT Income Fund.
Unitholders of record on June 17, 2013 will be entitled to receive notice of and vote at the meeting. A copy of the Notice and Management Information Circular which details the matters to be considered at the meeting has been mailed to unitholders and is also available on www.sedar.com.