Canadian Warrants

Registration of interests in, and transfers of, the Units and the Warrants will be made only through the book-entry only system of CDS Clearing and Depository Services Inc. (“CDS”). Units and Warrants must be purchased, transferred and, if applicable, surrendered for redemption only through a CDS Participant. All rights of an owner of the Units or the Warrants must be exercised through, and all payments or other property to which such owner is entitled will be made or delivered by, CDS or the CDS Participant through which the owner holds such securities. Upon purchase of any of the Units or the Warrants, the owner will receive only the customary confirmation.

The Fund's Declaration of Trust dated November 22, 2010 provides that neither the Units nor the Warrants comprising the Combined Units, may be owned by a U.S. person. The Manager may require declarations as to the jurisdictions in which beneficial owners of Units are resident. If a U.S. person acquires Units or in the event that a holder of Units becomes a U.S. person, such holder will be deemed to have exercised his or her right of redemption in accordance with the declaration of trust and such Units will immediately be redeemed for the monthly redemption amount.

Additional information on the Units and the Warrants can be found in the Fund's prospectus dated November 22, 2010, which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the prospectus.

Warrants: Each Warrant entitles the holder to purchase one Unit at a subscription price of $10.00 on and only on November 30, 2011 (the ‘‘Expiry Date''). The Warrants may only be exercised on the Expiry Date. Warrants may be tendered for exercise at any time. Warrants not tendered for exercise by 5:00 p.m. (Toronto time) on the Expiry Date will be void and of no value.

CIBC Mellon Trust Company (the “Warrant Agent”) has been appointed the warrant agent of the Fund to receive subscriptions and payments from holders of Warrants, to act as registrar and transfer agent for the Warrants and to perform certain services relating to the exercise and transfer of Warrants pursuant to a warrant indenture (the “Warrant Indenture”) dated as of December 9, 2010 between the Fund and the Warrant Agent. The Fund will pay for the services of the Warrant Agent. As soon as practicable following the exercise of a Warrant, the Fund will pay a fee of $0.15 per Warrant exercised to the CDS Participant whose client is exercising the Warrant and $0.10 per Warrant exercised to the Agents.