Company Details

Directors and Officers

The following are the names, office(s) held and principal occupations of the directors and officers of the Company:

Brian D. McChesney
President, Chief Executive Officer and Director
(Corporate Director)

Robert Hall
(Managing Director, Scotia Capital Inc.)

Stephens B. Lowden
Director & Chairman of the Audit Committtee
(Corporate Director)

John B. Newman
Director & Chairman of the Board
(Chairman, Multibanc Financial Holdings Limited)

Robert C. Williams
(Chairman, Morrison Park Advisors)

J. Nicholas Ross
Director & Chairman of the IRC
(Chairman & CEO, Rover Capital Corp.)


Canadian Resources Income Trust is an investment trust which provides investors with investment exposure to an equally-weighted portfolio comprised of the 20 highest yielding natural resource issuers in the S&P/TSX 60 Index. The S&P/TSX 60 Index consists of the 60 largest and most liquid issuers on the TSX and is generally maintained to have sector weights in line with the S&P/TSX Composite Index.

General Information

Distribution Policy

Distributions are declared and paid monthly to the extent of forecasted distributions received by the Trust plus interest income less estimated administration and operating expenses. For historical distribution amounts, please see distribution information.

Retraction Rights

The following provides a summary of the retraction rights available to shareholders. Please refer to the prospectus for complete details.

Unlike most mutual funds the Units are listed allowing holders to exit by selling their Units. In addition, they are also retractable at any time. Because of the manner in which the retraction prices are calculated, investors are almost always better off selling their Units on the market rather than retracting them. It should be noted that all the retractions listed below constitute a taxable disposition of the Units at the time of the retraction.

Regular Retraction

Units may be surrendered for retraction at any time for payment on the last day of each month or the preceding business day. Unitholders are entitled to receive 95% of the net realized proceeds less $0.25.

Special Annual Retraction

The special annual retraction date occurs on November 30th of each year. On that date unitholders are entitled to receive 100% of the net realized proceeds per Unit retracted.


The Trust is scheduled to wind up on March 31, 2020, and at that time, the Trust will distribute to unitholders their pro rata portion of each of the portfolio securities and any remaining assets of the Trust. Unitholders may elect to receive a cash payment in which case their pro rata portion of the portfolio securities will be sold following the termination of the Trust and the net proceeds realized from such sale will be distributed to them.


Distributions received by the Trust from the portfolio securities will be distributed to the Unitholders monthly. Distributions received from issuers in the portfolio securities have various tax treatments: some are taxed as dividends, some as interest income and others as a return of capital. Amounts received as a return of capital are not taxable but must be used to reduce the adjusted cost base of an investor's Units. Dividends received by an individual are generally subject to the normal gross-up and dividend tax-credit rules applicable to dividends received on securities of a taxable Canadian Corporation.

The tax treatment and classification of revenue of distributions received are reported by the underlying issuers in the portfolio securities either at the time of declaration or on an annual basis.

A Unitholder will generally be required to include in the calculation of income the net income and the net realized taxable capital gains of the Trust paid or payable to the Unitholder in the year. If the distributions by the Trust to a Unitholder in any year exceed the net income and net realized capital gains of the Trust for the year paid or payable to the Unitholder, such distributions will not be taxable but will reduce the adjusted cost base of the Unitholder's Units. For a historical breakdown of distribution amounts, please see distribution information.

Legal Notices

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the TSX (or other eligible market) where the investment fund is listed and quoted. If the units are purchased or sold on the TSX or other market, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. The indicated rates of return on this site are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.