MYDAS Fund Completes IPO

MYDAS Fund, a member of the Citadel Group of Funds, completed its initial public offering of nine million trust units at a price of $25 per unit for gross proceeds of $225 million, on February 14, 2002. The offering was made through a syndicate of agents led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and including RBC Dominion Securities Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Capital, Desjardins Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Bieber Securities Inc., Raymond James Ltd. and Yorkton Securities Inc. Bloom Investment Counsel, Inc., of Toronto, is the investment manager of the fund. The trust units trade on the TSE.

The fund was represented by James Bruvall, Leland Corbett, Tyler Robinson and Stephen Goltz (securities) and David Weekes (tax) of Stikeman Elliott in Calgary. Kent Kufeldt and Harvey Steblyk (securities) and Edward Heakes and Darren Hueppelsheuser (tax) of Macleod Dixon LLP acted for the syndicate of agents.