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Rogers Sugar Income Fund (the “Fund”), completed a public offering of $50 million principal amount of 6.00% convertible unsecured subordinated debentures. The Fund is an open-ended, limited purpose trust holding all of the common shares of Rogers Sugar Ltd., the leading refiner, processor, distributor and marketer of sugar products in Western Canada, and Lantic Sugar Limited, one of two refiners in Eastern Canada.

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2005