Income Financial Establishes At-The-Market Equity Program

TORONTO, Aug. 23, 2021 (Globalrelease Wire) — Income Financial Trust (the “Trust”) announces it has established an at-the-market equity program (“ATM Program”) that allows the Trust to issue trust units (the “Units”) of the Trust to the public from time to time at the Trust’s discretion, effective until August 26, 2023 unless terminated prior to such date by the Trust. Any Units sold in the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Units are listed, quoted or otherwise traded at the prevailing market price at the time of sale. Sales of Units through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated August 20, 2021 with National Bank Financial Inc. (the “Agent”).

Sales of Units will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Units in Canada. Since the Units will be distributed at the prevailing market price at the time of the sale, the price may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated August 20, 2021 to the Trust’s short form base shelf prospectus dated July 23, 2021. The maximum gross proceeds from the issuance of the Units will be
$10,000,000. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the Agent and are available on SEDAR at www.sedar.com.

The volume and timing of distributions under the ATM Program, if any, will be determined at the Trust’s sole discretion. The Trust intends to use the proceeds from the ATM Program in accordance with the investment objectives and investment strategies of the Trust, subject to the investment restrictions of the Trust.

The Trust invests in a portfolio of North American financial services companies including some of the strongest Canadian and U.S. banks, life insurance and investment firms.

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 Income Financial. The forward-looking statements are not historical facts but reflect the Income Financial’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 the Income Financial 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. The Income Financial 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. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Income Financial’s publicly filed documents which are available at www.sedar.com.

Investor Relations: 1-877-478-2372
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