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Guardian Capital Group Limited and Guardian Capital Tactical Yield Fund: CORRECTION FROM SOURCE: Guardian Capital Tactical Yiel

^{Published on 2009-10-01 11:18:31 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Oct. 1, 2009) - The following corrects and replaces the release sent at 1:19 pm ET on October 1, 2009. The phone number for Michael Christodoulou should be (416) 350-3121. The complete and corrected release follows.

Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) and Guardian Capital Tactical Yield Fund -

Guardian Capital Management LP ("Guardian Capital") and Guardian Capital LP ("Guardian") are pleased to announce that a preliminary prospectus for the Guardian Capital Tactical Yield Fund (the "Fund") has been filed with the securities regulatory authorities in each of the provinces and territories of Canada.

The Fund's investment objectives are:

(i) to maximize risk-adjusted total returns for investors, consisting of both cash distributions and capital appreciation; and

(ii) to provide investors with monthly cash distributions, initially targeted to be 5.5% per annum on the original offering price of $10.00 per unit.

The Fund will seek to achieve its investment objectives by investing in an actively managed, diversified portfolio comprised primarily of Canadian and global dividend-paying growth equities that provide a stream of current income and which Guardian believes have the potential for earnings and dividend growth and for capital gains, income-oriented equities, including preferred shares and REITs, and fixed-income securities, including high yield debt and investment grade debt.

Guardian Capital, as the trustee and manager of the Fund, will provide or arrange for all of the administrative, management and investment advisory services required by the Fund. Guardian Capital's affiliate, Guardian, will act as the portfolio adviser to the Fund. Both Guardian and Guardian Capital are subsidiaries of Guardian Capital Group Limited, a financial services company that has been listed on the Toronto Stock Exchange since 1969. Guardian Capital Group has three major operating business segments, including providing investment management services, providing financial advisory services relating to the retail distribution of mutual funds, other investments and life insurance and managing its own investment capital.

Guardian Capital Group intends to invest at least $1,000,000 in the Fund.

The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Capital Markets, and includes BMO Capital Markets, Scotia Capital Inc., National Bank Financial Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., GMP Securities L.P., Manulife Securities Incorporated, Wellington West Capital Markets Inc., MGI Securities Inc. and Worldsource Securities Inc.

Guardian Capital LP

Guardian and its predecessors have been operating in the investment management business since 1962. As at June 30, 2009, it managed $12.3 billion in assets for a variety of institutional clients, including pension funds, endowments, closed-end funds, third-party mutual funds, pooled funds and wrap programs.

A preliminary prospectus dated September 30, 2009 containing important information relating to these securities has been filed with securities commissions or similar authorities in all of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect Guardian Capital's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Guardian Capital believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Guardian Capital undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

For media inquiries or additional information, please contact Michael Christodoulou at (416) 350-3121, or your financial advisor.