Communiqués de presse

Can-60 Income Corp. Closes Initial Public Offering

TORONTO, October 19, 2010 - Can-60 Income Corp. (TSX:CSY) (the "Company") is pleased to announce the closing of its initial public offering. Pursuant to the offering, the Company issued an aggregate of 25 million shares (the "Shares") at $10 per Share, for gross proceeds of $250 million. The Shares are listed on the Toronto Stock Exchange under the symbol CSY.

The Company will invest on an equal weight basis in a portfolio (the "Portfolio") of the securities of the issuers comprising the S&P/TSXTM 60 Index, from time to time (the "Portfolio Issuers"). The S&P/TSXTM 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. the 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).

The Company has granted the agents for the offering an over-allotment option to acquire additional shares at a price of $10 per share exercisable at any time during the next thirty days.

The syndicate of agents for this offering was led by CIBC World Markets Inc., National Bank Financial Inc. and RBC Capital Markets, and included 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 at 416-642-1289 or 1-877-642-1289 or visit

"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 or its third party licensors.