NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Montreal, April 13, 2006 – GENIVAR Income Fund (the "Fund") is pleased to announce that the Fund has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with a proposed initial public offering of trust units of the Fund.
The proceeds of the offering will be used by the Fund to indirectly acquire an interest in the engineering services business of GENIVAR Inc. which will include the business of MacViro Holdings Inc. (“MacViro”).
The underwriting syndicate to be formed in connection with the offering will be co-led by National Bank Financial Inc. and TD Securities Inc., and will also include BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Raymond James Ltd. and Canaccord Capital Corporation.
GENIVAR is a leading Canadian engineering services firm providing private and public sector clients with a full range of professional consulting services through all execution phases of a project including planning, design, construction and maintenance. Its clients, which are of varying sizes, fall into various market segments such as building, industrial and power, urban infrastructure, transportation and environment. GENIVAR is one of the largest engineering services firm in Canada in terms of number of employees with approximately 1,150 managers, professionals, technicians and technologists and support staff in 31 offices in Canada and one office in Trinidad and Tobago.
GENIVAR has entered into an acquisition agreement whereby it is expected to acquire MacViro concurrently with the closing of the initial public offering. MacViro is an Ontario-based engineering services firm which has approximately 170 employees and provides a full range of professional consulting services in the urban infrastructure, industrial and power and environment market segments.
The units have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of such Act. Accordingly, this press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction.
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For more information, please contact :
Marlene Casciaro
Director of Communications
GENIVAR
Tel. (514) 340-0046, ext. 184
marlene.casciaro@genivar.com
