News Column

O'Leary U.S. Strategic Yield Advantaged Fund announces normal course issuer bids with respect to the class A and class U Units

June 24, 2014

MONTREAL, June 24, 2014 /CNW Telbec/ - O'Leary Funds Management LP, the manager (the "Manager") of O'Leary U.S. Strategic Yield Advantaged Fund (the "Fund") today announced that the Fund has commenced a normal course issuer bid to purchase a portion of the outstanding class A units (TSX: OUY.un) on the Toronto Stock Exchange ("TSX") and a normal course issuer bid to purchase a portion of the outstanding class U units (TSX: OUY.u) on the TSX. The purpose of the normal course issuer bids is to provide the Fund with (i) a mechanism to decrease the potential spread between the net asset value per class A unit and the market price of the class A units and to provide enhanced liquidity for the class A units; and to provide the Fund with (ii) a mechanism to decrease the potential spread between the net asset value per class U unit and the market price of the class U units and to provide enhanced liquidity for the class U units.

Under the normal course issuer bid with respect to the class A units, the Fund intends to purchase up to 171,372 class A units, representing 10% of the public float of the securities issued and outstanding. These purchases will be made in accordance with applicable regulations, and will be effected through the facilities of the TSX over a maximum period of 12 months commencing on June 26, 2014 and ending on the earlier of June 25, 2015 or on such date as the Fund completes its purchase under the normal course issuer bid or on such date as the Fund may otherwise determine. Class A units purchased will be cancelled. The Fund had 1,713,722 class A units issued and outstanding as at June 13, 2014. The Fund will not purchase in any given 30 day period, in the aggregate more than 34,274 class A units, being 2% of the issued and outstanding trust units as at June 13, 2014. Pursuant to the Fund's previous normal course issuer bid which expires on June 25, 2014, no class A units were purchased.

Under the normal course issuer bid with respect to the class U units, the Fund intends to purchase up to 253,546 class U units, representing 10% of the public float of the securities issued and outstanding. These purchases will be made in accordance with applicable regulations, and will be effected through the facilities of the TSX over a maximum period of 12 months commencing on June 26, 2014 and ending on the earlier of June 25, 2015 or on such date as the Fund completes its purchase under the normal course issuer bid or on such date as the Fund may otherwise determine. Class U units purchased will be cancelled. The Fund had 2,535,458 class U units issued and outstanding as at June 13, 2014. The Fund will not purchase in any given 30 day period, in the aggregate more than 50,709 class U units, being 2% of the issued and outstanding trust units as at June 13, 2014. Pursuant to the Fund's previous normal course issuer bid which expires on June 25, 2014, no class U units were purchased.

SOURCE O'Leary Funds Management LP


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