Connor, Clark & Lunn Financial Opportunities Fund and Australian Banc Income Fund Announce Merger Exchange Ratios

TORONTO, June 11, 2013 /CNW/ - Connor, Clark & Lunn Capital Markets Inc. announced today the exchange ratios in connection with the merger of Connor, Clark  & Lunn Financial Opportunities Fund ("GFO") and Australian Banc Income Fund ("AUI").

Pursuant to the merger, each holder of Class A Units of GFO will automatically receive approximately 0.557596  Class A Units of AUI for each GFO Class A Unit held and each holder of Class F Units of GFO will automatically receive approximately 0.550557 Class F Units of AUI for each GFO Class F Unit held. The merger will become effective today.

Trading of GFO Units will be halted at the opening of trading on June 13, 2013 and will be delisted at the close of business that day.  Unitholders of GFO are not required to take any action in order to become unitholders of AUI.

Details of the merger are outlined in an information circular that is available on www.sedar.com and www.cclcapitalmarkets.com.

Class A Units of Connor, Clark & Lunn Financial Opportunities Fund are listed on the Toronto Stock Exchange ("TSX") under the symbol GFO.UN.  Class A Units of Australian Banc Income Fund are listed on the TSX under the symbol AUI.UN.

SOURCE: Connor, Clark & Lunn Capital Markets Inc.

Please visit www.cclcapitalmarkets.com or contact:

Darren Cabral
Vice President & CFO
Connor, Clark & Lunn Capital Markets Inc.
[phone] or 1 [phone]
[email protected]