EnerVest Energy and Oil Sands Total Return Trust Announces 2012 Annual Redemption Information
CALGARY, ALBERTA--(Marketwire - Nov. 2, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
EnerVest Energy and Oil Sands Total Return Trust (the "Fund")(TSX:EOS.UN) announces that redemption requests for the voluntary annual redemption of approximately 18.8% of the issued and outstanding units were submitted by unitholders. Payment of the redemption will be made on or about November 15, 2012 at a redemption price of $10.03 per unit. The redemption price is calculated in accordance with the Declaration of Trust, and is the average net asset value per unit on the three business days immediately preceding the Redemption Date of October 31, 2012, less the total of estimated brokerage fees and other direct costs associated with the disposition of a corresponding amount of the portfolio securities to fund the redemption.
About The Fund
The Fund is listed on the TSX under the symbol EOS.UN and provides a diversified portfolio of securities of companies, royalty and income trusts, and similar issuers involved directly or indirectly with oil sands development. The Fund also invests in oil and natural gas issuers to assist in providing ongoing monthly cash distributions. The Fund is suited for investors who want an actively managed portfolio targeting this strategy, which has the potential for capital appreciation while delivering a tax-advantaged monthly distribution. The Fund is managed by Rafi G. Tahmazian, Senior Portfolio Manager at Canoe Financial.
About Canoe Financial LP
Canoe Financial is the Portfolio Manager and Manager of the Fund. Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.
Canoe is one of Canada's fastest-growing investment fund companies and currently manages approximately $1.8 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.
Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial's current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.
This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canoe Financial LP