Toronto, January 15, 2010 - First Asset Energy & Resource Fund (TSX: TRF.UN) announces that it has filed a final short form prospectus relating to an offering of warrants to unitholders of the Fund. Each unitholder of record on January 27, 2010 will receive one warrant for each unit held. Two warrants will entitle the holder to purchase a unit of the Fund upon payment of the subscription price of $24.07 (being the lesser of (i) the most recently published net asset value per unit prior to the date of the preliminary short form prospectus, and (ii) the most recently calculated net asset value per unit prior to the date of the final short form prospectus) on or before June 25, 2010, the expiry date. The Fund has applied to list the warrants under the ticker symbol TRF.WT.A and the units issuable on the exercise thereof on the Toronto Stock Exchange. It is expected that the warrants will commence trading on January 25, 2010 and will remain trading until noon (Toronto time) on the expiry date June 25, 2010.
Successful completion of the warrant offering will provide the Fund with additional capital that can be used to take advantage of attractive investment opportunities and it is also expected to increase the trading liquidity of the units and reduce the management expense ratio of the Fund.
For further information, please contact your financial advisor, call First Asset's investor relations line at 416-642-1289 (toll-free at 1-877-642-1289) or visit our website at www.firstasset.com.