WesternOne Equity Income Fund Announces Cash Distribution for May 2012

 WesternOne Equity Income Fund Announces Cash Distribution for May 2012  VANCOUVER, May 17, 2012 /CNW/ - WesternOne Equity Income Fund ("WesternOne  Equity") (TSX: WEQ.UN), (TSX: WEQ.DB.B) and (TSX: WEQ.DB.C) today announced  that its Board of Trustees has approved a cash distribution of $0.05 per trust  unit for the month of May 2012 (equivalent to $0.60 per trust unit on an  annualized basis). This distribution will be paid on June 15, 2012 to  unitholders of record at the close of business on May 31, 2012.  In addition, WesternOne Equity announced that during April 2012, 266,677 trust  units were issued at $5.25 per trust unit in connection with the conversion of  $1,364,000 principal amount in Convertible Unsecured Subordinated Debentures  (plus accrued interest). As at May 17, 2012, WesternOne Equity had 19,669,327  trust units, $14,550,000 principal amount of the Convertible Unsecured  Subordinated Debentures and $86,250,000 principal amount of the Extendible  Convertible Series 2 Unsecured Subordinated Debentures outstanding.  The policy of WesternOne Equity is to pay cash distributions on or about the  15th day of each month to unitholders of record on the last business day of  the preceding month.  About WesternOne Equity  WesternOne Equity seeks to acquire and grow businesses in the construction and  infrastructure sectors in order to generate stable and growing distributions  to its unitholders as well as to achieve overall capital appreciation.  Additional information about WesternOne Equity is available at www.weq.ca or  www.sedar.com  THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY  FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.  Andrew Greig, Manager of Investor Relations WesternOne Equity Income Fund  Suite 910, 925 West Georgia Street Vancouver, BC V6C 3L2 Phone: (604)  678-4042 E-mail:agreig@weq.ca www.weq.ca  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/May2012/17/c8508.html  CO: WesternOne Equity Income Fund ST: British Columbia NI: FIN CST DIV  
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