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Press release from CNW Group

Coxe Global Agribusiness Income Fund announces closing of over-allotment option

Tuesday, April 17, 2012

Coxe Global Agribusiness Income Fund announces closing of over-allotment option09:50 EDT Tuesday, April 17, 2012/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./TORONTO, April 17, 2012 /CNW/ - Coxe Global Agribusiness Income Fund (the "Fund") is pleased to announce that the Fund has completed an issuance of an additional 13,780 units ("Units") of the Fund pursuant to the exercise of the over-allotment option granted to the Fund's agents in its recently completed follow-on offering which closed on April 11, 2012. As a result, in connection with the follow-on offering, altogether, the Fund has issued 988,780 Units at a price of $9.85 per Unit for gross proceeds of $9,739,483.The Fund has been created to provide investors with long term capital growth by executing the agribusiness investment thesis of Donald G. M. Coxe, Chairman of Coxe Advisors LLP.The investment objectives of the Fund are to provide holders of Units with long term capital growth, quarterly distributions and lower overall volatility of portfolio returns than would be experienced by owning securities of Agribusiness Issuers (defined below) directly. Distributions are currently targeted to be $0.50 per Unit per annum, representing a yield of 5.0% per annum based on the original issue price of $10.00 per Unit. The Fund invests in a diversified portfolio (the "Portfolio") of publicly-listed securities of issuers ("Agribusiness Issuers") engaged in various aspects of agriculture, including food production, such as grains and livestock, agriculture equipment and sales, fertilizers, seed and specialty chemicals and agriculture infrastructure, including water, energy and alternative energy, transportation, agriculture technology and biotechnology related to the agribusiness industry. The Portfolio is well-diversified within the agribusiness industry and consists primarily of exchange-traded equities, but may include exchange-traded funds, debt, cash or cash equivalents.In order to seek to earn income from option premiums to supplement the dividends and distributions generated by the Portfolio and to lower the overall volatility of returns associated with the securities of Agribusiness Issuers held in the Portfolio, Connor, Clark & Lunn Capital Markets Inc. writes covered call options from time to time on up to 25% of the Portfolio.The Units are listed on the Toronto Stock Exchange under the symbol CAG.UN.BMO Nesbitt Burns Inc. is the promoter and acts as administrator of the Fund.The Units were offered for sale by a syndicate of agents led by BMO Capital Markets that includes CIBC, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, and Manulife Securities Incorporated.For further information: BMO Capital Markets at 1.866.864.7760.