Acuity Small Cap Corp. has completed its initial public offering of 4 million units at a price of $10 per unit for gross proceeds of $40 million.

The Class A Shares and the Warrants commenced trading today on the Toronto Stock Exchange under the symbols ASF and ASF.WT.

Each unit is composed of one class A share and one full Class A Share purchase warrant. Each warrant entitles the holder to purchase one Class A Share at a subscription price of $12 at 14:00 ET on Jan. 15, 2010.

Acuity Small Cap has granted the agents an over-allotment option to acquire a number of units comprised of up to 600,000 Class A shares and up to 600,000 warrants at a price of $9.70 per Class A share and 30¢ per Warrant.

The corporation’s investment objectives are: to provide the unitholders with long-term capital appreciation and monthly cash distributions.

Acuity Investment Management Inc. will provide investment advisory and portfolio management services to the corporation. The corporation intends to invest on an opportunistic basis in a broadly diversified group of issuers including, but not limited to, listed and unlisted issuers that are engaged in environmental technologies; the production of and/ or exploration for basic and precious metals; energy (in particular, uranium and oil & gas services); information technology; and health care and biotechnology.

Acuity was formed in 1990 and currently has assets under management of approximately $9.1 billion on behalf of mutual funds, pooled funds, closed-end funds and private and institutional clients.

The syndicate of agents for this offering was led by CIBC World Markets Inc. and Canaccord Adams and included BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Dundee Securities Corp., HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc., GMP Securities L.P., IPC Securities Corp., Richardson Partners Financial Limited and Wellington West Capital Inc.