Canadian Warrants

Registration of interests in and transfers of the Class A units and Class A warrants shall be made only through the book-based system operated by CDS Clearing and Depository Services Inc. Upon purchase of any Class A units or Class A warrants, the shareholders will receive only a customer confirmation from the registered dealer which is a CDS participant and from or through which the Class A units or Class A warrants are purchased. As the Class A units and Class A warrants will trade in the book-based system of CDS, shareholders need not take any action with respect to receiving the Class A units and Class A warrants upon the separation of the Class A combined units.
Additional information on the Class A combined units, Class A units and Class A warrants may be found in the final prospectus dated May 5, 2008, which is available at SEDAR. Capitalized terms not otherwise defined are as defined in the prospectus.
 
Warrants: Each whole Class A warrant will entitle the holder to purchase one Class A unit of the fund at a subscription price of $11.25 on May 31, 2011. Warrants may be tendered for exercise on or after May 16, 2011, and up to May 31, 2011, for Class A units not exercised by May 31, 2011 (being the two-week period up to and including the expiry date of the warrants). Warrants for Class A units not exercised by May 31, 2011, will become void and of no value.
 
The Class A warrants will be governed by the terms of a warrant indenture dated May 5, 2008, between the fund and CIBC Mellon Trust Company. Upon the exercise of a Class A warrant, the fund will pay a fee equal to 10 cents per Class A warrant to BMO Nesbitt Burns Inc. for and on behalf of the agents and a fee of 15 cents per warrant exercised to the dealer whose client is exercising the Class A warrant. The warrant indenture provides for appropriate adjustments to the rights of holders of Class A warrants in the event of stock dividends, subdivisions, consolidations or other forms of capital reorganization.
 
Initial public offering: It is understood, that prior to the opening of business on June 4, 2008, the agents will exercise, in full, the overallotment option for 3.75 million Class A combined units at $10 per Class A combined unit. The Class A combined units will separate into their component parts, also before the opening of trading on June 4, 2008.