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TORONTO, June 12, 2014 /CNW/ - Aston Hill Asset Management Inc., the manager of Aston Hill Oil & Gas Income Fund (TSX: OGF.UN) (the "Fund"), is pleased to announce the closing of the previously announced warrant offering of the Fund. The warrant offering was fully subscribed and as a result the Fund issued 5,792,027 units and raised gross proceeds totaling approximately $30.4 million under the warrant offering. As at June 12, 2014, there were 17,374,082 units of the Fund issued and outstanding.
The net proceeds from the warrant offering will provide the Fund with additional capital allowing the Fund to take advantage of market opportunities. The completion of the warrant offering is also expected to increase the trading liquidity of the units of the Fund and reduce the ongoing management expense ratio of the Fund.
Aston Hill Asset Management Inc., the manager of the Fund, is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSX: AHF). Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. Aston Hill Financial has offices in Calgary, Toronto and Halifax.
SOURCE Aston Hill Asset Management Inc.