TORONTO, November 2, 2009 - FA Capital Management Inc. ("First Asset"), the Manager and Trustee of First Asset Income & Growth Fund (the "Trust") (TSX: IGF.UN) announces that a special meeting of the unitholders of the Trust will be held on Monday, December 7, 2009. If required, an adjourned meeting will be held on Thursday, December 17, 2009. Unitholders of record on October 30, 2009 will be entitled to receive notice of and vote at the meeting. The Notice and Management Information Circular which details the matters to be considered at the meeting will be mailed to unitholders on or about November 16, 2009, and will also be available on www.sedar.com after mailing.
At the special meeting, unitholders will be asked to approve the merger of the Trust into Criterion Global Dividend Fund ("Global Dividend"). First Asset believes that the proposed merger is in the best interests of the unitholders of the Trust. Global Dividend is a larger, open-end mutual fund, which would result in enhanced liquidity for unitholders of the Trust, and First Asset believes that cost synergies can be realized through the combination of the two funds. If approved, the merger will be implemented on the basis of the relative net asset values of the Trust and Global Dividend as at the close of business on the day prior to the merger date.
If unitholders approve the proposed merger, First Asset anticipates completing the merger on or about December 23, 2009, subject to receipt of all required third party approvals.
About Criterion Global Dividend Fund
Criterion Global Dividend Fund is an open-end investment trust established under the laws of the Province of Ontario. Global Dividend is a global equity fund which invests in a portfolio of companies within the Return and Income Strategy Index managed by Merrill Lynch International, pursuant to a license agreement with Merrill Lynch, Pierce, Fenner & Smith (UK) Limited.
For more information, please contact Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.