Citadel Fund Administrator and Crown Hill Capital Corp. Wednesday announced further details regarding the merger of Crown Hill Fund, Equal Weight Plus Fund, Citadel HYTES Fund, Citadel Premium Income Fund, Citadel S-1 Income Trust Fund; and Citadel Stable S-1 Income Fund.

The effective date of the merger is December 2.

Effective immediately, the merged fund will be known as the Citadel Income Fund. It will begin trading on the TSX under the symbol CTF.UN on December 3.

Unitholders who redeemed units will receive payment on or about December 3, the companies said in a release.

Unitholders of the six funds to be merged will receive units of the Citadel Income Fund based on the agreed exchange ratios. Fractional units will not be issued and entitlements will be rounded down to the nearest whole unit.

Unitholders of record on December 14, will receive one warrant for each Citadel Income Fund unit held on the record date. A total of 42,128,467 warrants will be issued. Each warrant will entitle the holder to subscribe for and purchase from Citadel Income Fund one unit on either the first or second anniversary of the effective date at a subscription price of $5.55. The warrants will be listed on the TSX under the symbol CTF.WT and are expected to being trading on Dec. 10, 2009.

For a list of redemption prices and exchange rations, click here.

IE