Cinnamon Investments Ltd. reports that effective November 1, Stornoway Portfolio Management Inc. has been appointed as the new investment advisor to the Ravensource Fund, replacing McElvaine Investment Management Ltd.

There will be no increase in expenses to the fund as a result of the change of investment advisor because the manager, Cinnamon Investments, is responsible for paying the fees of the investment advisor.

Stornoway Portfolio Management Inc. currently acts as the investment advisor for Stornoway Recovery Fund LP. Stornoway Portfolio Management Inc., in its capacity as the investment advisor for Stornoway Recovery fund LP, capitalizes on investment opportunities that arise from companies that are experiencing financial distress.

Ravensource Fund is a closed-end investment trust whose investment objective is to achieve absolute annual returns, with an emphasis on capital gains, through investment in selected North American securities. The investment objective will not change as a result of the appointment of the new investment advisor.