August 30, 2012 at 09:40 AM EDT
Marret Investment Grade Bond Fund Completes Private Placement of Units

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

TORONTO, Aug. 30, 2012 /CNW/ - Marret Asset Management Inc. is pleased to announce that the Marret Investment Grade Bond Fund (the "Fund") (TSX: MIG.UN) has completed a private placement (the "Offering") of units of the Fund (the "Units") for aggregate gross proceeds to the Fund of $29,000,000. Scotia Capital Inc. (the "Agent") acted as agent in connection with the Offering. The offering price of the Units was established through negotiation between the Agent and the Fund and is not dilutive to existing unitholders of the Fund.

The Units sold pursuant to the Offering will be subject to resale restrictions under applicable securities laws expiring on December 31, 2012. The Offering is subject to final approval of the Toronto Stock Exchange.

The Fund is a closed-end investment fund established under the laws of the Province of Ontario to provide unitholders with investment exposure to a portfolio of North American investment grade bonds actively managed by Marret Asset Management Inc.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Marret Asset Management Inc. undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no assurance that the Fund will be able to achieve its distribution and capital preservation objectives or that the full amount of a unitholders investment in the Fund will be returned.

SOURCE Marret Investment Grade Bond Fund

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