Lysander Announces Initial Public Offering of "Canso Select Opportunities Fund"

TORONTO, Aug. 26, 2013 /CNW/ - Lysander Funds Limited ("Lysander") announces the filing of a preliminary prospectus for the Canso Select Opportunities Fund (the "Fund") with the securities regulatory authorities of all of the provinces and territories of Canada. The Fund will be managed by Lysander and is offering Class A and Class F units (collectively, the "Units") at a price of $10.00 per Unit.

The Fund will seek to achieve the following investment objectives: (i) maximize long-term total returns to holders of Units ("Unitholders"); and (ii) provide Unitholders with attractive monthly cash distributions, initially targeted at $0.50 per Unit per annum (5.0% yield on issue price), by investing in an actively managed, diversified portfolio consisting primarily of Canadian and global debt and equity securities (the "Portfolio").

The Portfolio will be actively managed by Canso Investment Counsel Ltd. ("Canso").  Canso was founded by John Carswell in 1997 and has over $10 billion in assets currently under management.

The syndicate of agents for the offering is being led by RBC Capital Markets and includes CIBC, Scotiabank, GMP Securities L.P., BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc. and Raymond James Ltd.

Certain statements in this press release are forward-looking statements, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "target", "seek", "will" and similar expressions to the extent they relate to the Fund, Lysander or Canso. Forward-looking statements are not historical facts but reflect the current expectations of the Fund, Lysander or Canso regarding future results or events. Such forward-looking statements reflect the Fund's, Lysander's or Canso's current beliefs and are based on information currently available to them. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results or events to differ materially from current expectations including global economic conditions. Some of these risks, uncertainties and other factors are described in the preliminary prospectus of the Fund under the heading "Risk Factors". Although the forward-looking statements contained in this press release are based upon assumptions that the Fund, Lysander and Canso believe to be reasonable, none of the Fund, Lysander and Canso can assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein were prepared for the purpose of providing prospective investors with information about the Fund and may not be appropriate for other purposes. None of the Fund, Lysander and Canso assumes any obligation to update or revise them to reflect new events or circumstances, except as required by law.

A preliminary prospectus dated August 26, 2013 containing important information relating to these securities has been filed with the securities commissions or similar authorities in all of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus can be obtained from any of the agents and is available on www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

SOURCE: Lysander Funds Limited

Lysander Funds Limited
Raj Vijh, Chief Financial Officer
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