Countryside Power Income Fund completes C$150 million initial public offering

Torys acted as counsel to the underwriters in Canada and the United States with a team in Toronto that included Jamie Scarlett, Philip Symmonds, Adam Delean and John Guccione (corporate/securities) and Corrado Cardarelli and Andrea Shreeram (tax). Torys' New York team included Carl Walker (corporate) and Jeff Scheine and Pamela Petree (tax).

On April 8, 2004, Countryside Power Income Fund completed an initial public offering of 14,905,366 trust units for gross proceeds of C$149,053,660. The fund used the proceeds to indirectly acquire two district energy systems in Canada from U.S. Energy Systems, Inc. (USEY) and make investments in 22 landfill gas to energy projects in the United States owned by U.S. Energy Biogas Corporation, a subsidiary of USEY. The offering was underwritten by a syndicate of underwriters led by CIBC World Markets and BMO Nesbitt Burns and including TD Securities, RBC Dominion Securities and National Bank Financial.