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FINWIRES

Lysander Funds Disposes 50,000 Units of Canso Credit Income Fund

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Lysander Funds on Thursday said it sold 50,000 Class A units of Canso Credit Income Fund (PBY-UN.TO) on Wednesday for $16.35 per unit, raising $817,514.

Before the sale, Lysander owned about 11.1% of the fund's Class A units on a partially diluted basis. After the transaction, its stake fell to about 10.6%, including convertible Class F units, the company added.

The sale was made under an automatic securities disposition plan announced in March. Since its last early warning filing on May 12, Lysander's ownership stake in the fund has decreased by about 2.5%, according to the statement.

"Lysander may, depending on market, general economic, industry and other conditions and considerations, and in compliance with applicable securities laws, increase or decrease its respective ownership or control of Class A Units for investment purposes and to keep the Class A Units in circulation, whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise," the company said.

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