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Can-60 Income Corp. Files Preliminary Prospectus

TORONTO, August 24, 2010 - Can-60 Income Corp. (the "Company") announces that it has filed a preliminary prospectus dated August 23, 2010 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of equity non-voting shares (the "Shares") at $10 per Share.

The Company was created to invest on an equal weight basis in a portfolio (the "Portfolio") of the securities of the issuers comprising the S&P/TSX 60 Index, from time to time (the "Portfolio Issuers"). The S&P/TSX 60 Index is comprised of 60 of the largest Canadian issuers listed on the Toronto Stock Exchange as measured by market capitalization. The Portfolio will initially be approximately equal weighted, and each month First Asset Investment Management Inc. (the "Manager" or "First Asset") will employ a covered call option writing program on approximately, and not more than, 25% of the securities of each Portfolio Issuer, in order to seek to earn attractive tax effective income from dividends, distributions and call option premiums, lower the overall volatility of returns associated with owning a portfolio of these securities, and to generate capital appreciation for holders of Shares of the Company (the "Shareholders").

The objectives of the Company are to provide Shareholders with:

  1. quarterly distributions;
  2. opportunity for capital appreciation; and
  3. lower overall volatility of Portfolio returns than would be experienced by owning a portfolio of the securities of the issuers that comprise the S&P/TSX 60 Index.

The Company will not have a fixed distribution, but intends to set periodic distribution targets. Based on the Manager's current estimates, the initial distribution target for the Company is expected to be $0.1625 per quarter ($0.65 per annum to yield 6.5% on the subscription price of $10 per Share).

First Asset is a Canadian wealth management company that manages and administers approximately $1.65 billion in assets.

Prospective purchasers may purchase Shares either by cash payment or an exchange of freely tradeable securities of each class or series of securities described in the table below. Prospective purchasers under the Exchange Option will be required to deposit their eligible exchange securities prior to 5:00 p.m. (Toronto time) on September 23, 2010 in the manner described in the preliminary prospectus.

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Issuer                                                 CUSIP      TSX Symbol
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Agnico-Eagle Mines Ltd.                            008474108             AEM
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Agrium Inc.                                        008916108             AGU
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ARC Energy Trust                                   001986108          AET.UN
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Bank of Montreal                                   063671101             BMO
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Bank of Nova Scotia (The)                          064149107             BNS
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Barrick Gold Corporation                           067901108             ABX
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BCE Inc.                                           05534B760             BCE
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Biovail Corporation                                09067J109             BVF
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Bombardier Inc.                                    097751200           BBD.B
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Brookfield Asset Management Inc.                   112585104           BAM.A
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Cameco Corporation                                 13321L108             CCO
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Canadian Imperial Bank Of Commerce                 136069101              CM
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Canadian National Railway Company                  136375102             CNR
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Canadian Natural Resources Limited                 136385101             CNQ
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Canadian Oil Sands Trust                           13642L100          COS.UN
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Canadian Pacific Railway Limited                   13645T100              CP
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Canadian Tire Corporation, Limited                 136681202           CTC.A
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Cenovus Energy Inc.                                15135U109             CVE
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Eldorado Gold Corporation                          284902103             ELD
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Enbridge Inc.                                      29250N105             ENB
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EnCana Corporation                                 292505104             ECA
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Enerplus Resources Fund                            29274D604          ERF.UN
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First Quantum Minerals Ltd.                        335934105              FM
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Fortis Inc.                                        349553107             FTS
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George Weston Limited                              961148509              WN
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Gildan Activewear Inc.                             375916103             GIL
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Goldcorp Inc.                                      380956409               G
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Husky Energy Inc.                                  448055103             HSE
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IAMGOLD Corporation                                450913108             IMG
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Imperial Oil Limited                               453038408             IMO
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Inmet Mining Corporation                           457983104             IMN
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Kinross Gold Corporation                           496902404               K
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Loblaw Companies Limited                           539481101               L
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Magna International Inc.                           559222401            MG.A
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Manulife Financial Corporation                     56501R106             MFC
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Metro Inc.                                         59162N109           MRU.A
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National Bank of Canada                            633067103              NA
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Nexen Inc.                                         65334H102             NXY
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Penn West Energy Trust                             707885109          PWT.UN
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Potash Corporation of Saskatchewan Inc.            73755L107             POT
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Power Corporation of Canada                        739239101             POW
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Research In Motion Limited                         760975102             RIM
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Rogers Communications Inc.                         775109200           RCI.B
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Royal Bank of Canada                               780087102              RY
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Saputo Inc.                                        802912105             SAP
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Shaw Communications Inc.                           82028K200           SJR.B
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Shoppers Drug Mart Corporation                     82509W103              SC
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SNC-Lavalin Group Inc.                             78460T105             SNC
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Sun Life Financial Inc.                            866796105             SLF
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Suncor Energy Inc.                                 867224107              SU
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Talisman Energy Inc.                               87425E103             TLM
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Teck Resources Limited                             878742204           TCK.B
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TELUS Corporation                                  87971M103               T
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Thomson Reuters Corporation                        884903105             TRI
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Tim Hortons Inc.                                   88706M103             THI
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Toronto-Dominion Bank (The)                        891160509              TD
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TransAlta Corporation                              89346D107              TA
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TransCanada Corporation                            89353D107             TRP
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Yamana Gold Inc.                                   98462Y100             YRI
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Yellow Pages Income Fund                           985569102          YLO.UN
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The syndicate of agents for this offering is being led by CIBC World Markets Inc., National Bank Financial Inc. and RBC Capital Markets, and includes BMO Capital Markets, Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., HSBC Securities (Canada) Inc., Wellington West Capital Markets Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Dundee Securities Corporation, and Mackie Research Capital Corporation.

For further information, please call Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.

"S&P/TSX 60TM Index" is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by the Company. The Company is not sponsored, endorsed, sold or promoted by Standard & Poor's ("S&P") or its third party licensors.