EnerVest Diversified Income Trust Announces October 2013 Distribution and Renewal of Credit Facility
CALGARY, ALBERTA – October 8, 2013 – EnerVest Diversified Income Trust (“EnerVest” or the “Fund”) (TSX - EIT.UN) announces the October 2013 distribution of $0.10 per unit. The distribution will be paid on November 15, 2013 to unitholders of record on October 31, 2013. The ex-distribution date for this payment is October 29, 2013.
About the Distribution
The Fund’s objective is to maximize monthly distributions relative to risk and maximize net asset value, while maintaining and expanding a diversified investment portfolio.
Credit Facility Renewal
EnerVest has renewed its credit facility with its existing lender effective October 1, 2013. The credit facility is a 12 month facility with a one year term-out option. The maximum available credit is $350 million, with EnerVest having the option, subject to lender approval, to increase the facility to $400 million. EnerVest is limited to borrowing an amount not to exceed 20% of the total assets of the Fund. The credit facility will be used to take advantage of market opportunities as they arise.
About the Fund
The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. The Fund is actively managed and invests in a diversified portfolio of income-generating and capital growth-oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions and net asset value for the benefit of its unitholders. The Fund is managed by Robert Taylor, Senior Vice President and Portfolio Manager of Canoe Financial.
About Canoe Financial LP
Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its ‘GO CANADA!’ investment thesis reflects Canoe’s strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada’s sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.
Canoe is one of Canada’s fastest-growing mutual fund companies and as at September 30, 2013, manages approximately $1.7 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.
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Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial’s current expectations regarding future results or events. Words such as “may,” “will,” “should,” “could,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “potential,” “continue” and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.
This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.