CALGARY,
July 10, 2013 /CNW/ - Toscana
Energy Income Corporation (Toscana Energy or the Company) (TSX
Venture: TEI) announced today the implementation and
commencement of a Dividend Reinvestment Plan (the DRIP).
Under the terms of the DRIP, eligible
shareholders of Toscana Energy (the Shareholders) may elect
to automatically reinvest their cash dividends from common shares
(Common Shares) of the Company in new Common Shares of the
Company. Shareholders who elect to reinvest cash
distributions under the DRIP will receive Common Shares at a price
equal to the average closing price of the Common Shares on the TSX
Venture Exchange during the 10 day trading period ending on the
business day immediately prior to the dividend payment date less a
five percent (5%) discount to such price (the Investment
Price).
Common Shares may be purchased under the DRIP
commencing with the cash dividend payable on August 15, 2013 to Shareholders of record on
July 31, 2013. Toscana Energy
has reserved an aggregate of 500,000 Common Shares (representing
approximately 10% of the issued and outstanding number of Common
Shares as at the date hereof) for issuance to participants enrolled
in the DRIP.
Registered Shareholders may enrol in the DRIP by
completing an Enrolment Form and submitting the completed form to
Valiant Trust Company (the Plan Agent) at the address set
out in the DRIP. Under the terms of the DRIP, Enrolment Forms
must be provided to the Plan Agent at least two days before the
record date of any dividend payment. Beneficial Shareholders
are encouraged to contact their broker or other intermediary for
enrolment information. The DRIP is subject to certain
limitations and restrictions and interested parties are encouraged
to review the full text of the DRIP. The DRIP and the
enrolment forms are available on Toscana Energy's website at
www.sprott-toscana.com.
About Toscana Energy Income
Corporation
Toscana Energy Income Corporation is a
conventional oil and gas producer with a mandate to acquire high
quality, long life oil and gas assets including royalties,
non-operated working interests and unitized production for yield
and capital appreciation. Toscana Energy Income Corporation
is managed by Sprott Toscana through Toscana Energy Corporation.
Sprott Toscana is a member of the Sprott Group of Companies.
About Sprott Toscana
Sprott Toscana (formerly Toscana Merchant Group)
is a team of Calgary-based energy
specialists that manage three separate businesses: Toscana Energy
Income Corporation (through Toscana Energy Corporation), Toscana
Financial Income Trust and Maple Leaf Energy Income LPs. In
July 2012, Toscana Merchant Group
joined the Sprott Group of Companies when it was acquired by Sprott
Inc. (TSX: SII), Canada's leading
alternative asset manager and a global leader in resource
investing.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Toscana Energy Income Corporation