Canso Credit Income Fund Announces Exercise of Over-Allotment Option

TORONTO, July 29 /CNW/ - Lysander Funds Limited ("Lysander") is pleased to announce that the syndicate of agents for the initial public offering of Canso Credit Income Fund (the "Fund") (TSX:PBY.UN) has exercised its over-allotment option and acquired an additional 640,000 Class A units of the Fund at a price of $10.00 per Class A unit. In total, the Fund issued 12,035,678 Class A units and 2,604,322 Class F units at a price of $10.00 per unit for total gross proceeds of $146,400,000. The Class A units of the Fund are listed on the Toronto Stock Exchange under the symbol PBY.UN.

The syndicate of agents for the offering was led by RBC Capital Markets and includes CIBC World Markets Inc., BMO Capital Markets, Scotia Capital Inc., National Bank Financial Inc., GMP Securities L.P., Dundee Securities Corporation, Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Macquarie Private Wealth Inc., Raymond James Ltd. and Wellington West Capital Markets Inc.

This press release contains forward-looking statements. The statements that are concerning the Canso Credit Income Fund's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of Canso Credit Income Fund are forward-looking statements. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to important risks and uncertainties that could cause actual results to differ materially from current expectations. While Lysander considers these risks and uncertainties to be reasonable based on information currently available, they may prove to be incorrect.

For further information: Lysander Funds Limited, Richard Usher-Jones, President, [phone]