Ravensource Fund Announces Closing of Private Placement

TORONTO, Nov. 6, 2023 /CNW/ - Stornoway Portfolio Management Inc. ("Stornoway"), the Investment Manager of Ravensource Fund ("Ravensource" or the "Fund") (TSX: RAV.UN) is pleased to announce the successful completion of the previously announced private placement, raising $1,418,400 through the issuance of 90,000 units ("Units") of the Fund at a price of $15.76 per Unit.

The proceeds from the Offering will be used by the Fund to purchase additional investments, both in new and existing Fund positions.

About Ravensource Fund

Ravensource Fund is a closed-end trust eligible for registered accounts including RRSPs, RESPs, TFSAs and RRIFs. Ravensource's objective is to seeks to achieve absolute, long-term returns by investing in out-of-favour and deep-value North American securities. The Fund has three investment strategies: distressed securities, alternative credit and special situations equities.

Additional information relating to Ravensource Fund is available on its website at www.ravensource.ca.

Cautionary Statements

This press release contains forward-looking statements which reflect the Fund's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Ravensource disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.

For more information, please contact:

Stornoway Portfolio Management Inc.
30 St. Clair Avenue West, Suite 901
Toronto, Ontario M4V 3A1
Attention: Scott Reid
Telephone: [phone]
Email: [email protected]

SOURCE Ravensource Fund