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: (416) 250-2845
Email: sreid@stornowayportfolio.com
SOURCE Ravensource Fund