Lakeport Brewing Income Fund filed a final prospectus with the securities regulatory authorities in all the provinces and territories of Canada in connection with the initial public offering of units of Lakeport Brewing Income Fund.

The offering of $51,957,460 is for 5,195,7640 units, at $10 per unit. An initial yield of 10.75% annually through the payment of monthly distributions is expected of the units.

The offering, which is expected to close around June 21, 2005, was underwritten by a syndicate of underwriters. The fund has proposed an over-allotment option to the underwriters. If the over-allotment option of 259,788 units is exercised during 30-day period following closing, the fund will hold a 80% interest in Lakeport Brewing Limited Partnership. However, on closing the fund will indirectly hold a 76.4% interest in the Lakeport Partnership, which will own and operate the business and assets of the Ontario brewery Lakeport Brewing Corporation.